Vat on gold

Now a days Gold prices are skyrocketing. The common people suffers the most. And the Govt also charging 1% VAT on Gold.

When we see in the General Markets, Govt is charging 5% and 14.5% VAT on most of the Essential Commodities.

Gold does not come under the Essential Commodities, but still Govt is charging only 1% of VAT on this. Why?

I like your comments on this issue, and how to Control the ever increasing the GOLD PRICES.

Please put forward your views and comments on this.