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India raises import tax on gold to support rupee

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GOLD
 India has raised its basic import duty on gold to 12.5% from 7.5%, the government said on Friday, as the world's second biggest consumer of the precious metal tries to dampen demand and bring down the trade deficit. Local gold prices jumped to an over two-month peak of 52 032 rupees per 10 grams on Friday, the highest since April 25.
 
 
 
 
 

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