[NEWS] India to Double Gold Import Duty

Discussion in 'Gold' started by Ouch, Mar 16, 2012.

  1. Ouch

    Ouch Active Member

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    Read more: http://online.wsj.com/article/SB10001424052702304692804577284860743860788.html?mod=googlenews_wsj
     
    Ouch, Mar 16, 2012
    #1
  2. thatguy

    thatguy Active Member

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    Tax on money... how stupid!
     
    thatguy, Mar 16, 2012
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  3. heartastack

    heartastack Well-Known Member Silver Stacker

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    So many ways to keep the price down isn't there.
     
    heartastack, Mar 16, 2012
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  4. projack

    projack Well-Known Member Silver Stacker

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    They say:
    "One of the primary drivers of the current account deficit has been the growth of almost 50 per cent in imports of gold and other precious metals in the first three quarters of this year."
     
    projack, Mar 16, 2012
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  5. Dabloodymess

    Dabloodymess Active Member

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    I highly doubt an extra 2% will greatly lower demand in India as the article suggests... the concept of gold ownership is far too ingrained in their culture, and a slightly higher cost wont do bugger all. Just government out for some more cash as per usual.
     
    Dabloodymess, Mar 16, 2012
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  6. VRS

    VRS Well-Known Member Silver Stacker

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    ^^^
    WA'CHOO'SED'BRAH... Achaaaaaaaaaaa!

    :D x
     
    VRS, Mar 16, 2012
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