2012-04-10

India to scrap gold import duty?

Thus far only promises from the finance minister, no action. India Jewelers End Strike Over Gold

This is short-term positive for gold, but overall economic performance from China and India is still important. Nevertheless, I was expecting the tax to rise until gold imports slowed. I assume we'll see a new policy from India that aims to achieve the same goal (lower gold imports) without tipping off the domestic industry.

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