Among the proposals in India's budget is a doubling of the import duty on gold to 4%, a move...

|By:, SA News Editor

Among the proposals in India's budget is a doubling of the import duty on gold to 4%, a move that could cause a significant drop from the record 969 tons of the metal brought into the country in 2011. The finmin blames the importation of gold for being one of the key drivers of the country's current account deficit. GLD -0.6% premarket.