| For one thing, there is India, the world’s biggest consumer of gold for jewelry, with an astonishing 25% share. (China bought more gold last year, but was not tops for jewelry use.) The current Indian government continues to try to improve its balance of trade by raising taxes on the metal and restricting gold imports in various ways.
Not only does this add costs that impinge on demand, but the regulations change month to month and are so confusing and byzantine that the red tape alone curtails trade. The regulations also have gotten even more burdensome recently...............................................Full Article: Source
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