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India Restricts Duty-free Gold Import Quota; Spot Gold Drifts Lower; ZIJIN MINING Slumps 3%+
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The Indian government is seeking to curb gold imports to alleviate pressure on FX reserves wrought by rising oil prices. India has ordered tighter rules on duty-free gold imports, setting the import cap at 100 kilograms per license. Earlier this week, it also raised import tariffs on gold and silver from 6% to 15%. Spot gold continued to decline today (15th), last down 0.81% to USD4,614.28 per ounce. Gold futures for June delivery dipped 1.44% to USD4,617 per ounce. Hong Kong-listed gold miners subsided. ZIJIN MINING (02899.HK) last quoted at HKD35.92, down 3.49%. ZHAOJIN MINING (01818.HK) last quoted at HKD24.68, down 2.45%. SD GOLD (01787.HK) last quoted at HKD27.42, down 3.79%. ZIJIN GOLD INTL (02259.HK) last quoted at HKD153.6, down 4%. LINGBAO GOLD (03330.HK) last quoted at HKD20.12, down 3.92%. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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