India's gold imports slide 57.75% in August after duty hike
India's gold imports dropped 57.75% in August to $2.3 billion after the government raised import duty to 15%. Silver imports jumped 127%.
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Summaries produced by the GoldRate.info market desk from primary reporting, with sources linked on every article.
India's gold imports dropped 57.75% in August to $2.3 billion after the government raised import duty to 15%. Silver imports jumped 127%.
Gold trimmed its intraday losses on Tuesday but remained under pressure from a rising US Dollar and multi-year high Treasury yields as markets awaited a widely expected Fed interest rate hike.
Gold trades near $4,300, well below last month's peak, as the Fed prepares a likely rate hike and the US dollar rallies. Market awaits Wednesday's decision.
Gold traded around $4,290 an ounce after falling to a five-week low, as Middle East oil disruptions reinforced expectations of a Federal Reserve rate hike this week.
Gold declined on Tuesday as rising crude oil prices and benchmark Treasury yields near 5% reinforced expectations of elevated interest rates ahead of the Fed's decision.
Spot gold dropped 0.9% to $4,308.24 as traders priced in an 89% chance of a US rate hike this week, following hot inflation data and rising oil prices.
Gold and silver declined on September 14, 2026, as oil prices jumped 4% on Middle East supply concerns and investors weighed the prospect of a US Federal Reserve rate hike.
Gold fell 0.85% on Monday, hitting a one-month low of $4,253, as the 10-year US Treasury yield climbed above 5% for the first time since 2023 and the US Dollar strengthened. Markets await the Federal Reserve's policy decision on Wednesday.
Gold approached a breakout last week but lost momentum, settling back above $4,200. Sticky inflation, rising bond yields, and a Fed rate hike expectation counterbalanced geopolitical oil supply risks.