Gold dips below $4,000 after China ends some tax incentives

Gold dipped below $4,000 an ounce after China ended a long-standing tax rebate for some retailers, a change that could weigh on demand in one of the world’s largest precious-metals markets.Bullion for immediate delivery fell as much as 1 per cent before paring most of that intraday loss, as Chinese jewellery stocks tumbled. Beijing announced Saturday that it would no longer allow some retailers to offset a value-added tax when selling gold they bought from the Shanghai Gold Exchange and Shanghai Futures Exc ...