Higher gold taxes could backfire again
When governments want consumers to buy less of something, they usually reach for taxes.
When governments want consumers to buy less of something, they usually reach for taxes.
India’s gold market witnessed a structural shift in the March quarter, with investment demand overtaking jewellery consumption for the first time on record, according to the World Gold Council (WGC).
The gold prices have witnessed sharp correction in the month of March as it fell as much as 12% recording the steepest fall since 2013.
Gold and silver prices eased on Monday amid a firmer US dollar and higher inflation expectations, trimming hopes of US Fed rate cuts in the near term.
Gold and silver prices eased on Thursday, amid profit booking by investors, although rise in geopolitical tensions and decline in US dollar capped the slide.
Gold and silver prices opened sharply lower on Thursday on the Multi Commodity Exchange (MCX) after the US Federal Reserve announced a 25-basis points rate cut.
Silver is widely regarded as a symbol of wealth, health, and peace, encouraging many to invest in it. According to Vedic astrology, silver acts as a healing influence on the mind, promoting good health, mental well-being, and a peaceful life.
According to the police, the duo, along with five others, had robbed the gold ornaments and cash from a Chennai resident, Gunavant, near the Samaypura toll plaza in the Trichy district of Tamil Nadu.
The court directed the chief vigilance and Security officer of the Travancore Devaswom Board (TDB) to conduct a thorough investigation into the loss of weight of gold and submit a report within three weeks.
The rising Indian shooter left home favourite and in-form Yao Qianxun 0.1 behind in the final held at the Ningbo Olympic Sports Centre. Reigning Olympic champion in the event, Oh Yejin of Korea, had to settle for bronze.
