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Govt stops import incentives for exporters of gold medallions and coins

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Vinay

India keeps tinkering with policies frequently which creates uncertainties in the market. This then leads to lower numbers on all fronts. Very soon all currencies will be backed by gold. The fiat currencies ( including all paper based funds,bonds, gold ETFs etc ) will collapse and has to, there is no other way.Man will begin new in a new world.( Personally I would convert a percentage of my paper money to physical gold or silver asap at whatever price is current and keep that gold in physical custody and not in a bank locker ) in such a scenario the country that has the most gold becomes a super power in an instant. Right now the dollar is powerful because of the important fact that it is the Petro dollar. The Petro dollar fundamentally and structurally will collapse in the near future. The new money will be and has to be backed by Gold and its poor cousin Silver. Hope India is ready for the new dawn of gold backed currencies. Jai Hind.

Praker (Bangalore)

Good.. any incentive related to gold must be stopped

Judging by huge mismanagement of economy by this incompetent govt composed of fools;i fear for safety of my investments.BJP govt has written laws in such ways that returns from stock markets -fixed deposits-real estate-private pension funds-insurance-won''t go more than 4-8%.That means,work till death on chai-paan-pakoda shops

Kavi Tanna (Toronto) replies to deshbhaktcommunist

Stock market returns are more than healthy. Only those who invest foolishly are getting hurt.

This Jeweler''s acclivity will keep the Rupee stronger.But the NDA attacks Gold to keep the US Dollar strong [also the huge US Treasury Holding of USD 138 Billion,while Indians struggle and the 2 Gold schemes].Being essentially an importing Nation,India is a perennial LOSER by such wrong policies to favour the USA and its Curency at the cost of the Rupee and the people of India.

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