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

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 -- Published: Friday, 16 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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