India has doubled its import duty on gold and silver from 6% to 15%. This move follows Prime Minister Narendra Modi's call for reduced spending on non-essential items like gold, fuel, and international travel. Industry experts anticipate a 10% drop in India's gold demand due to these changes. AI
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RANK_REASON Government policy change impacting a major commodity market. [lever_c_demoted from significant: ic=1 ai=0.1]