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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 445.60

-10.1%

Jan 30 4:00 PM EST

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To: carranza2 who wrote (106134)	5/19/2014 1:41:25 PM
From: RJA_	Read Replies (1) of 219934

Anyone know the position of new PM on this? translate.googleusercontent.com Home » Gold and Silver Market • Indian gold market »India increases import duty again gold and silver India increases import duty again gold and silver Frank knotter May 19, 2014 Gold and Silver Market , Indian gold market India raises again the import duty on both gold and silver from 10 to 15 percent. It is yet another attempt by the central bank for the purchase of gold by the Indian population to discourage. Imports of gold down - along with the import of crude oil - heavy on the balance of payments of India. That puts the value of the rupee under pressure, an effect that the government and the central bank to try to fight with various import restrictions together. Import Levy By increasing import duty and the controversial import quota is already less gold imported through official import channels, to the dismay of especially the smaller jewelers. Taxes translate into a relatively high premium on gold in the Indian market, smuggling of the yellow metal in hand. Allegedly smuggling since the first increase in the import duty boomed. Customs at the airport in New Delhi seized 352 kilograms of gold last year, 52 times as much as a year earlier. Smuggling Because the smuggling of gold remains largely under the radar, it is impossible to quantify how much gold there illegally entering the country. According to the Indian Ministry of Finance is concerned with only one to three tons of gold per month during the second half of 2013. The World Gold Council believes that it is much more. It is estimated that about 200 tons annually

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