Despite the duty, the fundamental reasons for buying gold - to hedge against inflation and currency risks- remain as strong as ever. Smuggling remains a concern as Illegal trade was rampant before restrictions on gold shipments were lifted in 1990. #ToWhatEffect#GoldBug#import duty on gold
India's passion for gold is putting such a strain on state finances that the govt may slap higher import taxes on the metal, but demand buoyed by heady inflation and meagre savings will blunt the impact of any rise in duties.
Do the western central banks hold the amount of gold they claim in their balance-sheets? There is a strong chance that they don't - which has implications for gold prices #Central banks#Gold prices#GoldBug