India hikes gold import duties to 6%

[Battle BeagleMember]

Should be bullish for silver……. Substitution Effect

India hikes gold import duties to 6%

http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=173913&sn=Detail

“In what some fear will be a crippling blow, the Indian government has hiked the import duty on gold and platinum to 6% from 4% with immediate effect, in a move aimed at curbing imports of the precious metals and check the widening current account deficit.”

[MaryBMember]

This will spike silver imports. “May you live in interesting times”

[jerrianMember]

That is really huge, we know that gold is a good choice investment, but how will it happen when the price is really like speed rocket. One thing I notice, I bought cruel intentions necklace at gold store, for just 5carats of 18k gold, it cost me a lot.

[Author]

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