Gold Smuggling Concerns Rise Post Import Duty Hike | Gold Loan Companies To Benefit From The Hike
The Directorate of Revenue Intelligence (DRI), in its official reports, has repeatedly linked rising import duty and high domestic gold prices with increased smuggling activity. The rally in gold financiers was driven by the price rise after the duty hike. When the government increases import duty, imported gold becomes more expensive. That eventually pushes up domestic gold prices as well.
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