India Hikes Gold and Silver Import Duties to Bolster Rupee
India has more than doubled its import tariffs on gold and silver, aiming to curb imports and support the declining rupee. This move has made precious metals more expensive for domestic buyers and led to a surge in their prices.
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India Hikes Gold and Silver Import Tariffs to Protect Economy - Bloomberg.com
India Hikes Gold and Silver Import Tariffs to Protect Economy Bloomberg.com
Read full article →India more than doubles tariffs on gold imports
The government wants to curb non-essential imports to protect the rupee
Read full article →India hikes bullion import duties as the world's second-largest gold market faces a declining rupee
The government has imposed a 10% basic customs duty and a 5% tax on gold and silver imports, as per notifications issued on Wednesday.
Read full article →Gold and silver prices today, Wednesday, May 13: Silver prices surge again, gold sits tight
Read full article →Gold price prediction after duty hike: Will price rally of today sustain in coming days?
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 closer to the international prices, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.
By TOI BUSINESS DESK
Read full article →Why has India hiked custom duties on gold, silver and other precious metals?
Import duty on gold and silver has been raised from 6 per cent to 15 per cent, while the tariff on platinum has been hiked from 6.4 per cent to 15.4 per cent.
Read full article →Why India hiked import duty on gold, silver amid rupee fall and rising oil prices
By Aanchal Magazine
Read full article →India hikes gold, silver duties to protect sliding rupee
India has boosted its import tariffs on gold and silver in an effort to shore up the sagging value of the rupee and bolster foreign currency reserves hit by war in the Middle East. Gold imports are financed through dollars, which means buyers have to spend down foreign reserves or convert rupees to make purchases. Prime Minister Narendra Modi had already appealed days ago to the public to avoid buying gold for a year as the rupee’s year-long slide against the dollar has worsened during the Ir...
By none@none.com (AFP)
Read full article →Explained: Why India Raised Gold Import Duty, And What It Means For You
India's forex reserves have slipped amid the Iran war. By raising gold import duty, India is taking pre-emptive steps to save its forex reserves.
Read full article →Here's why India hiked gold and silver tariffs
Read full article →India More Than Doubles Gold, Silver Tariffs To Defend Crashing Rupee
India More Than Doubles Gold, Silver Tariffs To Defend Crashing Rupee One day after vehemently denying speculation that India plans to raise duties on gold and silver imports following Prime Minister Narendra Modi's urging people to avoid buying gold for a year due to the impact of the Iran war, India did in fact raise import tariffs on gold and silver in an attempt to defend its currency, a surprise move as the country races to limit the damage from the Middle East war and...
By Tyler Durden
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