Gold, Silver Rate Today Live Updates: Gold, silver prices up in domestic market on import duty measure; set for weekly decline in international markets
India, the world’s second-largest consumer of gold after China, largely imports the precious metal to meet demand from the jewellery sector. These purchases result in a significant outflow of foreign exchange. Under the duty revisions announced on Wednesday, the government doubled the basic customs duty on gold to 10%, while the agriculture infrastructure and development…