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Gold is expected to become costlier after the government’s recent move to raise import duty to 15%. Alongside, the impact is likely to show up in domestic prices as well as trade patterns, a report by SBI Research has predicted.SBI Research said that changes in gold import duty have been made several times in the…
The move to up the gold import duty comes days after PM Narendra Modi appeals to citizens to avoid unnecessary gold purchases for a year. (AI image) In a bid to keep foreign exchange reserves buffer intact, the government has raised the import duty on gold and silver to 15% from 6%. India is the…
MCX Gold is holding a bullish tone on the weekly chart, bouncing from recent lows and pushing back toward the recent swing high. (AI image) Gold and silver price prediction today: According to Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group, both gold and silver prices are exhibiting a bullish bias this…
NEW DELHI: Days after PM Narendra Modi’s appeal to reduce gold purchases, the finance ministry on Wednesday raised customs duty on the yellow metal and silver to 15% from 6% in a bid to lower the demand for precious metals.The move pushed up domestic spot market for gold by Rs 9,000-10,000 to about Rs 1.6…
By raising duties, the government aims to curb excessive bullion imports, reduce dollar outflows and manage pressure on the current account deficit. (AI image) Gold price prediction today: Gold and silver prices are rallying in the domestic market due to the sudden hike in import duties. In the coming days they are expected to align…
NEW DELHI: The government on Wednesday raised import duties on gold and silver to 15% from 6% as part of a broader effort to curb rising imports of precious metals and conserve foreign exchange amid mounting pressure from the West Asia crisis.In a notification issued by the finance ministry, the government increased the social welfare…
Surendra Mehta, national secretary of the India Bullion and Jewellers Association, said the increase was largely expected as the government looks to contain the current account deficit. He added that elevated gold and silver prices could further impact consumer demand. On Sunday, Prime Minister Narendra Modi urged citizens to refrain from purchasing gold for a…
NEW DELHI: The government on Wednesday raised import tariffs on gold and silver to 15% from 6%, according to Reuters. The move is aimed at curbing precious metal imports and easing pressure on India’s foreign exchange reserves.The sharp increase in duties comes just days after Prime Minister Narendra Modi urged Indians to avoid buying gold…
NEW DELHI: The government on Wednesday raised import tariffs on gold and silver to 15% from 6%, according to Reuters, in a move aimed at curbing precious metal imports and easing pressure on India’s foreign exchange reserves.The sharp increase in duties comes just days after Prime Minister Narendra Modi urged Indians to avoid buying gold…
Tamil Nadu Chief Minister C Joseph Vijay has appointed astrologer Rickey Radhan Pandit Vettrivel as Officer on Special Duty (OSD) to the Chief Minister (Political) CHENNAI: Tamil Nadu chief minister C Joseph Vijay has appointed astrologer Rickey Radhan Pandit Vettrivel as Officer on Special Duty (OSD) to the chief minister (Political), according to an official…
