High duty may extend slack season for gold, keep prices in check for now

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Ajay Kedia, director at Kedia Advisory, said, “Friday’s gain in gold on MCX will be short-lived as this is only because of the duty hike.

The import duty hike on gold should be seen in this context, feel experts.

Friday’s move is among steps to curtail domestic demand for gold, following the increase in gold import bill in the financial year 2021-22.

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Author / Journalist: Rajesh Bhayani

Category: EconomyFinance

Topics: Duty Cent Market Prices Been Hike Import Increase Price Gold Domestic

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 21:36:00

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Reading Time: 5 minutes read

Article Length: 811 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 25506

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