“The world’s biggest gold importer has been trying to get its population to buy less of the metal. Late January, the government hiked the import duty on gold and platinum to 6% from 4% to curb imports of the precious metal. However, realising that an import duty hike was in the offing, bullion retailers purchased 23% more gold in January this year, ahead of the duty hike. ‘The shipment was the highest in 18 months and clearly undermined the government’s efforts to cap imports. A purchase of 100 tonne in one month is 40% more than the monthly average. This has got the government worried once again,’ said Baijal Pushpesh, bullion retailer.”
http://www.mineweb.com/mineweb/content/en/mineweb-whats-new?oid=178464&sn=Detail
Related posts:
Retired Couple Turn Into World Traveling Nomads
Tanzania: Our Case For Investment
Ron Paul: The Real Status of Forces in Afghanistan and Iraq
Monsanto Funded Anti-GMO Labeling Campaign Gets Away with Impersonating Govt. Agencies
"The Man Who Killed Kennedy: The Case Against LBJ"
Bitcoin Has Gone On An Insane Surge
How Cops' Extra Rights Shield Misconduct
FATCA: Probably the Worst Law Americans Don't Know About
Boston Police Tracking Protesters
Taiwan’s Government Says No To Bitcoin ATMs
TSA Plans to Use Face Recognition to Track Americans Through Airports
4 Facts Every GLD Investor Must Know
Why did Charlie Chaplin renounce the America which made him world-famous?
Venezuela running out of toilet paper
Texas Police Tase Overweight Asthmatic to Death in Drug Raid That Uncovers No Drugs