Silver For The People

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Indian Government failing to reduce gold imports despite penal taxation

arabianmoney.net / 02 January 2014

The Indian government wants to cut gold imports to 800 tonnes by the end of the financial year, down more than five per cent from the previous period. The restrictions are aimed at closing a widening current account deficit but, as Paul Allen reports, the authorities are facing a tough and traditional foe.

Gold imports from Dubai may actually be increasing rather than decreasing total demand from the world’s second largest gold market after China…

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