Kavita Chacko

Research Head, India World Gold Council

Indian gold import duties reduced to the lowest level in over a decade

Gold import duty was cut by more than half. Long-term capital gains tax on gold has been adjusted down and the holding period decreased. Profits on gold ETFs and mutual funds will no longer be taxed at the short-term capital gains rate if held for at least 12 months. Despite some potential short-term disruptions, we expect the combined effects of these changes to add at least 50t to gold demand in H2 2024.

 Blog Posted 4 months 3 weeks ago

Kavita Chacko

Research Head, India World Gold Council

India’s gold market update: investment demand and central bank purchases soften the slump in jewellery purchasing

Global and domestic gold prices stay elevated, y-t-d gains at 16%. Jewellery demand subdued; investment demand dominant. Significant widening of discounts between domestic and international gold prices. The Reserve Bank of India (RBI) grows its gold reserves with its highest monthly purchase in nearly two years in June. Gold ETFs inflows sustain momentum in June. Steady trend in gold imports.

 Blog Posted 5 months ago