Reported about 15 hours ago
Gold prices dipped below $4,000 per ounce after China terminated a long-standing tax rebate for retailers selling gold, a move that could dampen demand in a major market for precious metals. The tax change, effective until the end of 2027, affects how companies can offset value-added taxes when selling gold as jewelry or industrial products. Despite a recent decline, gold prices are still up over 50% for the year, though analysts suggest the policy shift may negatively impact global market sentiment.
Source: YAHOO