Tag: gold

Its Gold to the rescue

World Gold Council estimates that India owns almost twenty-five thousand tonnes of Gold. This perhaps represents the largest stock of gold on earth and translates to thirteen percent of the total gold mined since the beginning of civilisation (Read more about the same here). In “fiat currency” terms the value of this gold stock equals USD 1.55 trillion i.e. more than 50% of India’s GDP. This equates to eighty percent of the total market capitalisation of all listed entities on […]

Why Sovereign Gold Bond Scheme needs a review

India mines just 0.1% of the globally mined gold however it has almost 25% share of the overall global annual demand of the yellow metal. This puts a lot of pressure on country’s current account and foreign exchange reserves. In the annual Union Budget of 2015, with the intent of enabling purchase of gold in electronic form and reducing gold imports, government announced the Sovereign Gold Bond Scheme (SGBS). Sovereign Gold Bonds(SGBs) are government securities denominated in grams of gold. […]

Gold Rush – Overview of Global Demand and Supply of Gold

JP Morgan once famously said “Gold is money, everything else is credit.” Interestingly, many scientists believe that most of the accessible Gold, on which till few decades back our entire monetary system was based on, is extra-terrestrial in nature and brought to Earth by asteroids from outer space. Ever since then (as per World Gold Council estimates) around 197,576 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950.Further, since gold is virtually […]

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