GOld is becoming quite expensive day by day. The price of the gold is rising high along with silver and it is out of the reach of the common man. Indian domestic gold market is estimated to be greater than US $15 billion, and is even assumed to increase significantly in following years. From April 2008-February 2009 gems, jewelries costing US $17.79 billion were exported from India. Gem & Jewelry Industry accounts for greater than 10% of entire Indian commodities exports.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Indian Gold Market
- Thread starter Economist
- Start date
Greatindia
New Member
In India there are large number of people who long for gold. Especially in south India one can find families purchasing loads of gold during several occasions. This is not the case in any other country. Therefore the indian gold markets are facing a high tide due to high demands in the jewelery products.
sweetangel
New Member
Indian gold market is soaring high. Gold has become not reachable from the reach of the common man. The rates of gold has just become 4 times high in these 10 years. Gold is the costlier metal that is liked by every woman but now buying a piece of gold would be very difficult for everyone due to the increase in the rates of gold. Silver is also soaring high just like gold.
And what about China ? The same case like India ? OK, let's see...
Even as Gold prices continue to rise, there is mounting speculation among traders in China that the Chinese government is going to accumulate the yellow metal in the coming months. Recently, there have been comments from China Gold Investment Research Institute that the People’s Bank of China is stepping up plans to buy gold to increase its foreign exchange reserves in the yellow metal.
Currently, China holds only minor proportion of its official foreign exchange reserves in gold--just 1.6%. But traders say if China is going to accumulate gold, it is going to do it in complete secrecy that no one would know about it in the next few years that the People’s Bank of China had actually added up the gold reserves. The first time China officially reported its gold reserves was in 2003. It then reported the existence of 600 tons of gold reserves. Then for the next five years, there was no word on China adding up its gold reserves. Suddenly, in 2008, China sprang a surprise by announcing that the People’s Bank of China had doubled its gold reserves in the past five years to 1054 tons.
Even as Gold prices continue to rise, there is mounting speculation among traders in China that the Chinese government is going to accumulate the yellow metal in the coming months. Recently, there have been comments from China Gold Investment Research Institute that the People’s Bank of China is stepping up plans to buy gold to increase its foreign exchange reserves in the yellow metal.
Currently, China holds only minor proportion of its official foreign exchange reserves in gold--just 1.6%. But traders say if China is going to accumulate gold, it is going to do it in complete secrecy that no one would know about it in the next few years that the People’s Bank of China had actually added up the gold reserves. The first time China officially reported its gold reserves was in 2003. It then reported the existence of 600 tons of gold reserves. Then for the next five years, there was no word on China adding up its gold reserves. Suddenly, in 2008, China sprang a surprise by announcing that the People’s Bank of China had doubled its gold reserves in the past five years to 1054 tons.
Indian gold market is one of the best in the world. And due to festive seasons one can find the rates of gold reaching sky high due to high demand. However it is believed that China is going to beat India in gold market by becoming the largest gold market by importing 190 tonnes of gold in comparison to India's 173 tonnes.
sjumani123
New Member
Indians have a huge fascination for gold. People buy gold for a variety of reasons such as for its auspicious sentiment; as an investment, Gold continues to command long term value. Gold is highly liquid and portable as a Security or Asset. It can be converted to cash anytime when an emergency arises and is considered a friend in need. Many people think that Indians are gold crazy. Though this statement cannot be completely negative, the truth is that Gold has always had a special significance for all ages.
CommonWageEarner
New Member
The many people who think you are crazy include our American chairman of the Federal Reserve System, Benjamin Bernanke and white people in general. That includes Americans and Europeans. The chairman has stated on gold, "It's tradition." He doesn't believe that it's money. PROVE HIM WRONG. As an American, I have to admit that we as citizens do not have control of our government, and have not for a very long time. It is why we have military adventures, spying on everyone we can, droning innocent people in the Middle East, installing puppet governments in MENA (Middle East North Africa), and printing up our reserve currency paper money, causing problems in your foreign exchange values. I have to admit that there is nothing I can do to effectively change the government's foreign policy behaviors as well as monetary behaviors, otherwise I risk getting jailed and shot. I am sorry and apologize for our behavior, even though the voting decisions I have made have nothing to do with what is happening now. We are in precisely the same situation prior to WWII in which the German people still had a chance to track down and stop Hitler once they found out he had gotten out of PRISON - he became Chancellor within TEN YEARS. TEN YEARS! Very soon, we will be in a position where there is NOTHING that Americans can do to stop the behaviors of the government, in turn requiring the assistance of foreign powers to step in and forcibly stop it and help the American people regain control of domestic affairs. Right now, at the national level, it is out of our hands. I disagree with the government's policies, but I cannot do anything to stop them, effectively speaking.
I totally believe what you say about the Indian's buying behaviors regarding gold. It is the ONLY sensible thing to do. I am recently unemployed because the company I worked for made working conditions, as far as income goes, very difficult for me. I had to go ahead and leave in a quest for another line of work. I would like to find myself in the same capacity that many of you are in; you have a good job, a place to live and things to do, and you are able to look forward to the holidays to share with friends and family, and you can afford to shop for gold and silver for these holidays. I learned about gold/silver over eight years ago, and I began to understand what the banking class has been doing to us Americans by diseducating us away from gold/silver as money. Don't ever let go of this knowledge. I would have to say to the women; find your oldest piece of jewelry/coins/bullion, and imagine how many generations ago it was when the piece was bought or given to your ancestor - I am that ANCESTOR, only TODAY. I am the first generation of such savers in my entire family. I know of NO ONE else in the family who lives as you do, other than myself.
Here's the funny thing. There are times when Asians, including Indians, Middle Easterners, and Chinese are buying gold/silver hand-over-fist, and what is the American public doing? SELLING/PAWNING GOLD/SILVER in order to survive, pay bills. Exactly the opposite of what you do, because people here in America don't save like they should. It's changing, yes, but not near enough.
I totally believe what you say about the Indian's buying behaviors regarding gold. It is the ONLY sensible thing to do. I am recently unemployed because the company I worked for made working conditions, as far as income goes, very difficult for me. I had to go ahead and leave in a quest for another line of work. I would like to find myself in the same capacity that many of you are in; you have a good job, a place to live and things to do, and you are able to look forward to the holidays to share with friends and family, and you can afford to shop for gold and silver for these holidays. I learned about gold/silver over eight years ago, and I began to understand what the banking class has been doing to us Americans by diseducating us away from gold/silver as money. Don't ever let go of this knowledge. I would have to say to the women; find your oldest piece of jewelry/coins/bullion, and imagine how many generations ago it was when the piece was bought or given to your ancestor - I am that ANCESTOR, only TODAY. I am the first generation of such savers in my entire family. I know of NO ONE else in the family who lives as you do, other than myself.
Here's the funny thing. There are times when Asians, including Indians, Middle Easterners, and Chinese are buying gold/silver hand-over-fist, and what is the American public doing? SELLING/PAWNING GOLD/SILVER in order to survive, pay bills. Exactly the opposite of what you do, because people here in America don't save like they should. It's changing, yes, but not near enough.