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2012-07-08 — gata.org
In the recent past, measures such as hiking import duty, dissuading banks from dealing in gold, and discouraging non-bank financial companies from extending their gold loan portfolio have been tried. But if experience is to offer any lessons, such efforts will be in vain. The annual import of gold in 2011-12 is reported to have crossed 900 tonnes.
...
... it would be worth trying how far the existing supplies in the country can be diverted to the financial system so that the unproductive nature of the gold asset is turned into a financially-productive stream. A few of these approaches are considered here.
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