.............The debate is even acquiring a proletarian angle. Indians are estimated to privately hold 18,000 tonnes of gold, which is some 350 times the size of the official gold holdings of the Reserve Bank of India. When the import duty on gold bars was raised from 4 per cent to 6 per cent in January 2013, gold was trading at $1,692 an ounce. Gold has since fallen to $1,200, a decline of 29 per cent..........
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