First published by Money Metals Exchange here: https://www.moneymetals.com/news/2024/08/20/import-tax-cut-boosts-indian-gold-demand-003394
<p><img src='https://www.moneymetals.com/uploads/content/the-lower-import-taxes-could-boost-gold-jewelry--bar--and-coin-demand-by-50-tons-or-more-in-the-second-half-of-2024.jpg'/></p>As expected, India's recent gold import tax cut lowered prices and spurred demand for the yellow metal. India ranks as the world's second-largest gold consumer behind China.
<p><img src='https://www.moneymetals.com/uploads/content/the-lower-import-taxes-could-boost-gold-jewelry--bar--and-coin-demand-by-50-tons-or-more-in-the-second-half-of-2024.jpg'/></p>As expected, India's recent gold import tax cut lowered prices and spurred demand for the yellow metal. India ranks as the world's second-largest gold consumer behind China.