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How Does Government Regulation Affect The Gold Industry

302 Words2 Pages

Government regulation is the primary intervention that affects the gold industry. Basically, the regulation to mine for minerals/metals requires a permit from several levels of government which often takes quite the time as the permit must process through the different levels. This often delays the time given to mine as well as when and how the miners must go about doing their jobs. This slows the entire industry down for supply because of all the legal factors in mining due to environmental aspects. On top of that, the government does place harmonized sale taxes on gold which can affect the demand of the product as people would rather buy gold for its initial value and not have to pay an additional 13% in taxes for a product as it can be very

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