import duty cut

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Record Gold Prices Threaten to Damp Festive Season Demand in India

A recent surge in gold prices to a record high has dampened the Indian bullion industry’s hopes for a profitable festival season, despite optimism following a significant cut in import duties two months ago—the lowest in a decade. “After the duty cut, there was a surge in interest, and we were confident this festival season would be extraordinary,” said Prithviraj…