Jewellers are expecting a reduction in import duty of gold and a cut in incometax for the common people in the upcoming Budget 2020 to spur demand. At present gold attracts an importduty of 12.5% and a GST of 3%.
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Budget 2020 : MCX, BSE and NSE to open for Trading on Budget Day Timings
Budget 2020: The MCX future markets will be kept open between 9 am and 5 pm to allow trading. And Stock markets normal hours from 9 am to 3.30 pm to be open on Budget day February 1, 2020, as per the circulars.
Gold Imports Slip 6.77% April-December 2019 Current Financial Year
Gold imports, which have a bearing on the current account deficit, fell 6.77 percent to $23 billion during the current financial year 2019, According data from the commerce ministry.
Federal Reserve January 2020 FOMC Interest Rate Decision Today – Gold Silver Reports
The Federal Reserve is on deck to release its January 2020 FOMC interest rate decision today at 19:00 GMT. Details provided by the US central bank will likely be examined closely by market participants for clues on changes in language communicated by Fed officials regarding their relative hawkish or dovish leaning.
Gold Rates Up for 3rd day, Silver Prices Surge
Silver and gold rates gained in Indian markets today, lifted by higher global rates. On MCX, February gold futures rose 0.52% to ₹40,560 per 10 gram, extending gains to the third day. Tracking gold, silver also edged higher.
U.S. – China Sign Deal Easing Trade Tensions
Trade Tensions: The U.S. and China signed a trade deal that officials say will lead to a sharp increase in sales of U.S. goods and services to China, further open Chinese markets to foreign firms—especially in financial services—and provide strong new protections for trade secrets and intellectual property.
China’s huge US trade war deal commitments confirmed
The trade deal to be signed this week will include pledges by China to buy US$200 billion of US goods over two years in four industries, a Trump administration official and two other sources briefed on the matter said.