Gold has achieved a new record high, accompanied by a notable surge in the value of Bitcoin.
India’s gold market is threatened as the government revealed a new jewelry tax regulation, requiring a 1 percent sales tax on gold jewelry. Import taxes has not been changed, even though jewellers have expected the government to eliminate the 10 percent import duty.
Due to the swing of gold prices, South African mining company Gold Fields Ltd had resorted to negotiating with its creditors for an extension of its loan maturities, said Gold Fields CEO Nick Holland.
Many hedge funds raised their bets on the increase of gold prices, yet Goldman Sachs Group expected a reverse on the gold rally to occur.
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