Credit: © Reuters.
MUMBAI, Feb 1 (Reuters) - India slashed the import duties on gold and silver to 7.5% from 12.5%, Finance Minister Nirmala Sitharaman said on Monday, as the world's second biggest gold consumer tries to bring down smuggling of the precious metal.
Gold futures MAUc1 fell more than 3% following the surprise announcement in the annual budget by Sitharaman.
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