Cause of decline in value of gold unveiled

01.07.2022,12:58


July 1, Fineko/abc.az. India, one of the world's largest gold importers, has announced an increase in the tax rate on gold imports from 7.5 to 12.5 percent.

ABC.AZ reports that investors consider that an increased percentage will reduce an interest in the precious metal. In this regard, the depreciation of gold has accelerated.

As a result of the increase in interest rates by central banks as part of the fight against inflation, gold has fallen in price by about 7% over the last quarter.