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 affect demand and pricing in the gold and precious metals market.
pre-market1 source ↓written by the desknot a recommendation
- will now attract
- 5% duty
- will incur
- 5.4% duty
- be 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 a 5.4% duty. Additionally, precious metal spent catalysts will be set at 4.35%, contingent on compliance criteria.
This move may impact demand for gold and precious metals, potentially influencing market prices and trader sentiment in the sector.
Not investment advice. For informational purposes only.