| Anticipation of favourable policies under a stable govt at the Centre, aided by a possibly stronger rupee, are expected to bring bullion price down. Gold prices are likely to decline further, amid expectations of a further rise in the rupee against the dollar and favourable policies after a stable government is formed at the Centre.
Speculation is strong that a Bharatiya Janata Party-led government will review the import duty on gold, currently at a high of 10 per cent. And, ease the ‘80:20 rule’, under which at least 20 per cent of imported gold needs to be supplied to jewellery exporters. These hopes have brought down the premium on physical gold sales to $15 an oz or Rs 300 per 10g...............................................Full Article: Source
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