India Tax Hike Drives Illegal Gold Imports to 3Y High
India’s illegal gold imports surged to the highest since 2023 in Q3 after a government duty hike spurred use of unofficial channels, according to the World Gold Council.
Original · Bloomberg AI summary of public reporting
Why: Higher Indian import duty → increased demand for physical gold
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At publication → CurrentGOLD3,920 → 3,912−0.2%