Wednesday, August 14, 2013

India Gold Import Restrictions resulted in More Imports not Less

For the last few months, the RBI and the government have been consistently putting up barriers to slow the flood of gold imports into the country. However, Bloomberg TV India learns that the gold clampdown is pretty ineffective, as the rules allow for gold to be round-tripped and brought back in even greater volumes. This has also resulted in some dramatic consequences in India's neighbouring countries, with quite a few acting to curb the gold movement within their jurisdictions as well.