Friday, September 16, 2016 2:45:25 PM
Infographic: The Indian Gold Market
Published: Friday, 16 September 2016
The Indian gold market is one of the world’s largest and most extensive gold markets, with an estimated 23,000 tonnes of private gold held within India’s borders. In India, gold is revered and held as a traditional form of savings and wealth preservation, particularly in the form of gold jewellery. With minimal gold mining production, Indian gold demand is predominantly met by gold imports, both official and unofficial (smuggling).
Unlike China, where the Chinese government actively encourages its citizens to invest in physical gold, in India the government wages a constant War on Physical Gold. Despite this war, Indian citizens largely ignore their government and continue to purchase physical gold in large quantities.
This infographic guides you through the following characteristics of the Indian Gold Market:
Gold held in India versus other major gold holding countries
Gold Price Quotation standards in India
Sources of Gold Imports into India, both fine gold and doré gold bar imports
Gold Smuggling into India
The Drivers of Indian Gold Demand
Gold Trading Volumes on India’s commodity exchanges, the MCX and NCDEX
The Indian Government’s constant War on Gold
Further information about the Indian Gold Market can also be found in BullionStar's Gold University gold market profiles.
The Indian Gold Market – An infographic hosted at BullionStar.com
http://news.goldseek.com/GoldSeek/1474034700.php
Published: Friday, 16 September 2016
The Indian gold market is one of the world’s largest and most extensive gold markets, with an estimated 23,000 tonnes of private gold held within India’s borders. In India, gold is revered and held as a traditional form of savings and wealth preservation, particularly in the form of gold jewellery. With minimal gold mining production, Indian gold demand is predominantly met by gold imports, both official and unofficial (smuggling).
Unlike China, where the Chinese government actively encourages its citizens to invest in physical gold, in India the government wages a constant War on Physical Gold. Despite this war, Indian citizens largely ignore their government and continue to purchase physical gold in large quantities.
This infographic guides you through the following characteristics of the Indian Gold Market:
Gold held in India versus other major gold holding countries
Gold Price Quotation standards in India
Sources of Gold Imports into India, both fine gold and doré gold bar imports
Gold Smuggling into India
The Drivers of Indian Gold Demand
Gold Trading Volumes on India’s commodity exchanges, the MCX and NCDEX
The Indian Government’s constant War on Gold
Further information about the Indian Gold Market can also be found in BullionStar's Gold University gold market profiles.
The Indian Gold Market – An infographic hosted at BullionStar.com
http://news.goldseek.com/GoldSeek/1474034700.php
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