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.
India had a successful outing at the Archery World Cup Stage 2 in Shanghai, bagging three medals including a gold in the compound men's team event, a silver in the women's team event, and a bronze in the mixed team competition in Shanghai on Saturday.
The World Gold Council (WGC) on Wednesday said the share of investment demand in India's total gold consumption will likely rise in 2025.
Chaotic as it seems, Donald Trump’s tariff war and subsequent walk-backs are a deadly serious attempt by his team to address what they perceive as the core issues of the dollar-dominated global monetary system.
Gold prices hit a new record high in India on Wednesday, with the yellow metal trading at Rs 95,435 per 10 grams on the Multi Commodity Exchange (MCX).
India's competitive position in select product segments may help cushion some of the losses, it mentioned.
