Indian gold demand looks set for a strong few months as a cut to the import tax and what’s likely to be a buoyant festival and wedding season drive purchases in the world’s second-biggest consumer of the precious metal.
🔥Imports more than tripled to 140 tons from the previous month, according to the World Gold Council, as the government lowered the customs levy to 6% from 15%.
🔥The positive trend is likely to continue as a bountiful monsoon this year has brightened crop prospects, potentially boosting disposable incomes of farmers — a major consuming group.
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