>> The F*CKING F*CKS
... just when I starting to worry I shall never ever be able to buy gold at below 3,900, help on the way
I remembered that my interest is aligned perfectly with the Returning Sovereign, that be GetMoreGold
bloomberg.com
China Ends Gold Tax Break in Setback for Key Bullion Market
By Yihui Xie
November 1, 2025 at 9:11 AM GMT+8
Updated on
November 1, 2025 at 10:04 AM GMT+8
Takeaways by Bloomberg AI
- China is scrapping a long-standing gold tax incentive, which will no longer allow retailers to offset a value-added tax when selling gold.
- The rule covers both investment products, such as high-purity gold bars and ingots, and non-investment uses including jewelry and industrial materials.
- The move is expected to bolster government revenue, but will also likely increase the cost of buying gold for Chinese consumers.
China is scrapping a long-standing gold tax incentive in a potential setback for consumers in one of the world’s top bullion markets.
Starting on Nov. 1, Beijing will no longer allow retailers to offset a value-added tax when selling gold they bought from the Shanghai Gold Exchange, whether sold directly or after processing, according a new legislation from the Ministry of Finance.
The rule covers both investment products - such as high-purity gold bars and ingots, as well as coins approved by the People’s Bank of China - and non-investment uses including jewelry and industrial materials.
The move should bolster government revenue at a time when a sluggish property market and weak economic growth have strained public coffers. But the changes will also likely increase the cost of buying gold for Chinese consumers.
A buying frenzy among retail investors around the world recently helped gold’s record-breaking rally move to overbought territory, setting the precious metal up for an abrupt correction.
Gold’s worst rout in more than a decade coincided with a reversal of relentless buying through exchange-traded-funds, which had been on the rise since late May. It also matched the end of seasonal buying linked to festivities in India. A trade truce between the US and China, meanwhile, eased demand for bullion as a haven asset.
Gold figurines on display at a Laopu Gold Co. store on Canton Road in the Tsim Sha Tsui area of Hong Kong, June 4, 2025.Photographer: Lam Yik/Bloomberg
But gold is still holding near the $4,000-an-ounce milestone it breached earlier in October, and many of the fundamentals that pushed it higher are expected to remain: buying by global central banks, US interest-rate cuts, and a host of global uncertainties that still make its perceived safety appealing to investors.
Many in the industry, still see prices nearing $5,000 an ounce in about a year. |
