In 2006-07, a 1 percent withholding tax was imposed on commercial imports of gold in the country. Photo: Express News
After four consecutive sessions of gains, gold prices retreated in both the international and domestic markets on Thursday.
In the international bullion market, the yellow metal slipped by $25 per ounce to settle at $3,865.
Read: Gold tops Rs400,000 amid global rush
Tracking the global trend, domestic prices also registered a decline. The per tola rate fell by Rs2,500 to Rs407,778, while 10 grams dropped Rs2,144 to Rs349,603.
Silver followed the same trajectory, with per tola prices down Rs13 to Rs4,839 and 10 grams lower by Rs11 at Rs4,148.
Spot gold, however, recovered 0.5% to $3,883.69 per ounce in late trade, down from Wednesday’s all-time high of $3,895.09. US gold futures for December delivery inched up 0.3% to $3,908.90.
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