In an exclusive episode of ET Commodity Talk, we spoke to Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers, to know what is happening in the commodity market right now and the expectations of the market from this budget. Precious metals were lower on Friday driven by end-of-week profit booking amid US PPI came in better than expectations and in contrast to lower CPI numbers. The market expects an import duty cut in gold from 15% to 10% and for silver import duty to be at par with Gold under the CEPA Agreement. With IIBX at GIFT city emerging as a gateway to import bullion, bullion players want all import and export of gold to happen through IIBX. Market participants want the interest income on SGB to be made tax-free, to attract more investors in this scheme.

Source: Economic Times July 17, 2024 06:13 UTC