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Commodities Briefing - Categorized | Bullion/Gold, Commentaries more

Bank of Japan holds key to gold’s direction

Posted on 28 January 2013

Gold prices are likely to rule range-bound, looking for direction from the Bank of Japan that is set to decide on ways to boost the Japanese economy. Though India has raised the import duty on gold by two percentage points, it is unlikely to have any effect on demand. Already, the global market has ignored the impact of the duty rise, made to overcome the current account deficit.
Despite the duty hike, prices in the domestic bullion market were unchanged on Monday evening at Rs 30,415 for 10 gm of gold for jewellery (99.5% purity). Pure gold, too, was unchanged at Rs 30,555………………………………………..Full Article: Source


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VRS - who has written 38958 posts on Opalesque Commodities Briefing.


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