India hikes bullion import duties as the world's second-largest gold market faces a declining rupee

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Source: CNBC
Published: 2026-05-13 14:25 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Economy & Finance, Financial Markets, India, Trade & Sanctions, Commodities, World News, Business & Economy, Crime & Justice, Asia Pacific
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Snippet:
India, the world's second-largest gold consumer, has raised import duties on gold and silver to 15% from 6%, just days after Prime Minister Narendra Modi urged citizens to curb bullion purchases for a year as overseas purchases pressure the rupee.
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