Indian gold demand wanes as jewellers expect import tax cut
Bullion industry has been calling for a tax reduction in annual budget to combat smuggling and unauthorised sales
Wed, Jan 31, 2018 - 5:50 AM
The lower import tax could boost India's gold demand and support global prices that are currently trading near their highest in 17 months.
GOLD in India, the world's second biggest user of the precious metal, were at discounted prices as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday.