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India's gold imports likely to drop in H2 2017 - WGC

In an interview with Reuters, Somasundaram PR, Managing Director of World Gold Council’s (WGC) India operations, India's gold imports are likely to bear the brunt of the latest taxes introduced by the government.

Gold imports are likely drop in H2 2017 from the first six months after jewelers rushed to stock up ahead of new taxes introduced on July 1. The goods and services tax (GST) on gold jumped to 3% from 1.2% previously.

India is the world's second biggest gold consumer after China.

Key Quotes:

"Expecting higher (taxes), certainly some of the imports and some of the demand from the second-half were advanced in the June quarter." 

Spain 5-y Bond Auction declined to 0.233% from previous 0.314%

Spain 5-y Bond Auction declined to 0.233% from previous 0.314%
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GBP/JPY sits at 2-week tops ahead of BOE

The GBP/JPY cross continued gaining bullish traction for the fourth consecutive session and refreshed two-week tops, near the 146.80 region following
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