Government increases import duty on gold and precious metals
after close1 source ↓written by the desknot a recommendation
- will incur
- 5% duty
- will attract
- 5.4% duty
- subject to compliance
- 4.35%
- on catalysts
- 4.35% duty
The government has raised the import duty on gold and precious metals effective today. Gold and silver findings will incur a 5% duty, while platinum findings will attract a 5.4% duty. Additionally, precious metal spent catalysts are set at 4.35% subject to compliance criteria. This move may impact demand and pricing in the gold market.
• 5% duty on gold and silver
• 5.4% duty on platinum
• 4.35% duty on catalysts
Traders should monitor market reactions closely as this could influence gold prices and import volumes.
Not investment advice. For informational purposes only.