Government raises import duty on gold and precious metals
The government has raised the import duty on gold to 5% and platinum to 5.4%, effective immediately. This change may influence gold prices and consumer purchasing behavior amid ongoing geopolitical tensions.
after close1 source ↓written by the desknot a recommendation
- will now attract
- 5% duty
- findings will incur
- 5.4% duty
- are set
- 4.35%
The government has increased the import duty on gold and precious metals effective today. Gold and silver findings will now attract 5% duty, while platinum findings will incur 5.4% duty. Precious metal spent catalysts are set at 4.35%, contingent on compliance criteria. This move may impact gold prices and consumer demand in the market.
Not investment advice. For informational purposes only.