COMEX Gold Falls Around Half A Percent In Asia

Published on Dec 09, 2020 11:46

COMEX Gold futures added impressive gains for a second session as bargain buying lifted the metal. COMEX Gold hit a three week high. However, prices slipped thereafter and the metal currently trades at $1866 per ounce, down 0.45% on the day. Local retail buying is likely to stay supported in near term amid improving Covid-19 scenario. Meanwhile, the suggestions of gems and jewellery industry related to duties and taxes are under consideration of the Finance Ministry, Commerce and Industry Minister Piyush Goyal has stated. Gems and Jewellery Export Promotion Council Chairman Colin Shah has suggested cutting import duty on gold to 4.5% from 12.5%. Speaking at CII``s Gems and jewellery Conference, Shah said that the duty structure is very high in the country.