Play the video in slow motion and fish for clues about Indian gold import duty cuts.
Merill Lynch has said in a note it expects the government to lower the import duty on gold in India by 2 % on a short notice. If gold import duties are being cut, now at 10%, that would likely increase (official) Indian gold import.
We’ve been hearing these rumors about Modi, India’s new prime minister, to cut gold import duties for weeks now. Let’s see if it will finally happen.
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