00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Gold steadying around $4,000 in outs on Monday after Beijing ended a long-standing tax remade
00:07for some retailers, a policy shift that made dampened demand in the world's biggest gold
00:11market, according to Bloomberg. New rules limit the value-added tax offset on non-investment gold
00:17from 13% to 6%, affecting jewelry and electronics producers, as well as non-member sellers of
00:22investment gold. Chinese jewelry stocks fell sharply in Hong Kong after China's tax change.
00:28The channel has said we're likely to prompt the industry to raise prices to offset higher costs.
00:33Despite the pullback, gold remains up more than 50% year and date, supported by Central Bank
00:37and Safe Haven Demand.
00:38For all things money, visit Benzinga.com.
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