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.
As the US reciprocal tariff deadline looms, gold prices on Monday hit a record high of $3,106 per ounce for the first time, with people rushing towards accumulating the safe-haven asset amid global uncertainties.
The government on Tuesday announced to discontinue the medium term and long term government deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26.
Chhattisgarh has emerged as a trailblazer in mineral sector governance under the leadership of Chief Minister Vishnu Deo Sai, combining transparency, innovation, and sustainability to drive unprecedented economic growth.
Chief Economic Advisor V Anantha Nageswaran said on Monday that gold will remain relevant for investors as a portfolio diversification mechanism with a "likely ascending importance" as an asset class in the coming years.
Three people, including two Thailand nationals, were apprehended in two separate cases of smuggling of gold and drugs at Indira Gandhi International Airport (IGIA), Customs officials said on Thursday.
