Customs Tax Goes From 10% to 12.5%

Gold Buyers in India Are Being Gouged By Modi Government

Modi Raises Gold Tax

The Modi Government of India has just raised the Customs tax on Gold to an astounding 12.5 %.  India, after confiscating billions of dollars of wealth from it’s citizens is now desperate to protect its failing fiat currency by jacking the Customs tax from 10% to 12.5%.  This is a huge premium for India’s citizens to pay, but it shows that the people are not stupid.  They know what the Modi Government is doing to them through fiat currency and want to own physical gold.  The huge demand proves that gold is way too cheap, and is the subject of huge taxes to suppress the price.