Gold smuggling in India jumps to 50 tonnes as 15% duty widens gap
FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM
Gold smuggling in India is estimated to have surged to 50 tonnes in the September quarter from three tonnes a year earlier after import duty rose to 15% from 6%, according to the World Gold Council. Meanwhile, demand remained 29% lower year-on-year as record-high prices weighed…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishSmuggling and weaker demand point to pressure on India's physical gold market.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Gold smuggling in India is estimated to have risen to 50 tonnes in the September quarter.
- 02Import duty rose to 15% from 6%.
- 03Demand fell 29% year on year as record prices weighed on purchases.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets