Some Gold Market Facts
October 9, 2011 5 Comments
India is the world’s biggest market for gold.
Imports meet almost all the country’s 800-900 tonnes per year requirements for jewellery and investment.
The market was only freed up in 1997, when the government allowed banks and other state-run trading firms to import the sensitive commodity directly.Only 31 state-run and private banks along with government trading agencies have licences to import gold because of its implications for foreign exchange flows. Read more of this post
