Bhadresh Sheth 🇮🇳

Alphonso aam ka raaja hain, baaki sab praja hain!

Government of India has increased tax on gold and silver imports from 6% to 15%. That means imported gold and silver can become nearly 8.5–9% costlier from duty impact alone. And this comes after the government had already requested citizens to stop buying gold. This is a macro warning. When oil pressure rises, forex outflow increases, and the rupee comes under stress, gold becomes the first target. Because every gold import sends dollars out. So the message is clear: They want to slow gold demand. They want to protect forex reserves. They want to reduce pressure on the rupee. But history says one thing clearly: Whenever governments make gold harder or costlier to buy, it usually confirms that currency pressure is real. Gold is no longer just an investment. It is becoming politically sensitive again.

For those doubting whether the Indian government was really worried about people buying gold, leave the image aside for a moment. Look at what happened next. Due to severe pressure on foreign exchange, currency weakness, import dependence, and the public’s growing preference for physical gold , the Indian government launched the Gold Control Act in 1968. This was not a small policy. It was a direct attempt to control gold ownership, regulate gold dealers, restrict primary gold, and reduce public demand for physical gold. Why? Because the government understood one thing very clearly: When citizens lose confidence in currency, they naturally move toward gold. Gold becomes the silent vote against currency debasement, policy failure, and external dependence. The Act was aimed at reducing gold demand. But in reality, it only proved why Indians trusted gold in the first place. You can question the image. But you cannot question the history. India did launch the Gold Control Act. And that itself shows how seriously the government feared gold.

Part 7: The Fragmentation Premium was the developing thesis in March. It is the price now. Brent is at $107. WTI is at $102. Saudi Aramco CEO Amin Nasser has stated that the market is losing 100 million barrels of supply each week. Normalisation of the Oil Markets now pushes into 2027 if disruption persists. Trump is now reportedly meeting his national security team to weigh a return to military operations. Netanyahu has stated that the conflict with Iran is "not over." The ceasefire, in Trump's own words, is on "massive life support." This is the state of play 48 hours before he lands in Beijing.