Indians buying gold at Rs 5,000 per 10 grams discount on cash deals
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This story is aggregated from The Times of India (timesofindia.indiatimes.com). Full reporting rights and copyright belong to the primary publisher.
For bulk purchases, such off-the-record cash deals can bring prices down by as much as 6% from prevailing market rates. Dealers who take cash can avoid certain taxes and share some of those savings with buyers. The revival of this informal market is an unintended outcome of a pol...
For bulk purchases, such off-the-record cash deals can bring prices down by as much as 6% from prevailing market rates. Dealers who take cash can avoid certain taxes and share some of those savings with buyers. The revival of this informal market is an unintended outcome of a policy intended to reduce India’s demand for gold.
Original Source
https://timesofindia.indiatimes.com/business/india-business/she-bought-gold-at-a-discount-of-rs-5000-per-10-grams-took-no-receipt-how-indians-are-turning-to-under-the-counter-cash-deals-as-gold-prices-soar-bagging-discounts-of-up-to-6/articleshow/134568697.cms
