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GST to dampen demand for yellow metal in short term: World Gold Council

Small-scale artisans and retailers with varying tax compliance may struggle to adapt: WGC

Reuters  |  MUMBAI 

An increase in taxes on gold sales in India could curb short-term demand from the world's No. 2 consumer of the metal, the World Gold Council (WGC) said. Faltering appetite in a country where gold is used for everything from investment to wedding gifts could further drag global prices, already trading near their lowest level in eight weeks. "In the short term at least, we believe (the tax) may pose challenges for the industry," said Alistair Hewitt, Director of Market Intelligence at WGC. "Small-scale artisans and retailers with varying degrees of tax ...

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First Published: Thu, July 06 2017. 17:36 IST