China is making gold more expensive for you
Business
China is dropping a key tax perk for buying gold from the Shanghai Gold Exchange.
Starting November 1, 2025, retailers won't be able to deduct value-added tax on these purchases anymore.
The government hopes this will help boost revenue, but it'll likely mean higher prices for anyone looking to buy gold.
Prices already near $4,000 an ounce
Both investment gold (like high-purity bars and coins) and jewelry will get pricier with this policy shift.
This comes as global demand has pushed gold prices near $4,000 an ounce lately—thanks to central banks buying up gold and ongoing economic uncertainty.
Even after a recent dip, experts think prices could hit $5,000 an ounce within a year.