“Two weeks ago, gold jumped to a then-2014 high, following reports out of India that the head of India’s Congress Party, Sonia Gandhi was pushing the government to cut its duty on gold and other restrictions. Today, now that the upward move in gold has finally resumed, it appears that the nation with the world’s most draconian gold capital controls, is finally starting to crack under pressure from the people, as well as a surge in gold smuggling via illegal channels to unprecedented levels. Reuters reports that India ‘will look into relaxing gold imports curbs, but won’t let its current account deficit (CAD) balloon, Finance Minister P. Chidambaram said on Monday.'”
http://www.zerohedge.com/news/2014-02-17/india-look-easing-gold-price-controls
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