gold import duty

SURGE IN GOLD PRICE : EXPLAINED

The government has reduced customs duties on gold imports to lower gold prices, curb smuggling, and boost official trade. While these measures helped reduce illegal imports and bring some price relief, gold prices remain high due to global economic factors, currency depreciation, and strong demand. Moving forward, further duty cuts, better regulation of digital gold, strengthening anti-smuggling efforts, and revitalizing gold monetisation schemes are recommended to stabilize prices.