Gold Price Analysis: Impact of Customs Duty Reduction on Diwali Purchases
Gold Price Changes Due to Customs Duty Adjustments
In a significant move, the customs duty on gold has been slashed from 15% to 6%, while the duty on gold dore now stands at 5.35%, reduced from 14.35%. This dramatic shift is likely to influence gold prices and consumer behavior during the Diwali season.
Market Reactions to Changed Duties
The recent changes have led to an iincreased interest in gold purchases. As buyers anticipate lower prices, many may seize this moment to invest in physical gold jewellery.
Consumer Insights for Diwali
- Increased affordability of physical gold.
- Potential rise in overall jewellery sales.
- Shift in consumer perception about gold investment.
With celebrating Diwali traditionally involving gold jewellery purchases, these changes set the stage for a critically different buying environment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.