Monday, December 30, 2013

What will be the Gold Trend in Year 2014 ?

gold-trend-year-2014
Gold, the most traded and talked commodity of the year 2013. However the gold was not in the news due to it's glory of shining all the time, instead the gold in the commodity market both domestic and global under performed due to the certain reasons. Gold import duty raised in the early month of the year 2013 from 4% to 6%. The decision to hike the import duty was taken in the so rush that FM didn't even could wait for the Budget. It was a great news for the whole commodity market, since then for the first time a sudden increase of around 2% in the prices of the gold was observed in the short time duration. Main motive behind the increasing import duty was to control the import of the gold in the country. FM, Government of India stated that the country doesn't produces gold rather we have to to import it from foreign and we pay in dollars to procure it. Gold ranked 2nd in the import duty bill right after the crude oil. While gold is considered as a dead asset. While in upcoming years we may witness a fall in the import duty bill if the Rupee appreciates soon.     


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