The yellow metal is losing its luster as gold prices have tumbled following the Union Budget’s decision to slash import duties.
The move, aimed at curbing smuggling and making gold more affordable, has sent shockwaves through the market.
With import duties reduced from 15% to a mere 6%, gold prices in India have plummeted, leaving investors grappling with unrealized losses. However, the silver lining for buyers is the opportunity to acquire gold at significantly lower rates.
While experts caution that this could be a temporary dip and gold’s long-term appeal as a safe-haven asset remains intact, the immediate impact is undeniable. The question now is whether this price correction marks a new chapter for gold in India or if it’s merely a blip on the radar.
Would you like to know more about how this price drop might impact the jewelry industry or explore other factors influencing gold prices globally?
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