GST, other such policies to boost gold demand, says World Gold Council

    Gold demand will get a fillip from government policies targeted at transparency and economic growth, according to the World Gold Council. "In India, the second largest gold market in the world, we believe that after their initial implementation shock, policies such as the demonetisation initiative and the new Goods and Service Tax (GST) will start to have a positive effect on the economy," WGC said in its 'Outlook 2018 Global economic trends and their impact on gold' report. It said, these policies are designed to improve transparency, broaden the tax base, and draw the informal, cash-based economy into the formal sector. "Our research shows that continued economic growth underpins gold demand. Read more...

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