You are here: Home » Markets » Commodities » Precious Metals
Business Standard

Gold premiums in India fall to 4-month low on talk of import duty cut

Reuters  |  Mumbai 

Gold premiums in India, the world's second-biggest consumer of the metal after China, fell 17% on Friday to their lowest in four months as buyers postponed purchases on speculation over a possible cut in import duty next week. Premiums were quoted at $62 an ounce, a level last seen in the second week of October last year, compared to $75 on Thursday. Premiums hit a record $160 last month. Sonia Gandhi, has asked the government to review tough import restrictions on gold, which include a record 10 percent import duty, local media reported on January 23. India used to be the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, February 14 2014. 17:03 IST
RECOMMENDED FOR YOU