Beruflich Dokumente
Kultur Dokumente
c
TOPIC:
GOLD EXPORTS
GROUP MEMBERS
Lokesh Bharadwaj - 04
Sanchitha Gopalkrishnan - 11
Karan Kanchan - 15
Devashish Nabhi - 20
Vicky Pohuja - 35
Snehali Sahu - 41
Gold & India
c
c is the largest consumer of gold in the
world to be followed by China and Japan.
India is emerging as world's largest trading
centre of this commodity with a target of
US$ 16 billion set for 2010.
India¶s Gem and Jewellery industry has
registered an impressive 38.15 percent
growth in exports in rupee terms in just
concluded fiscal 2007-08.
Gold Bar Exports registered a growth of
1.28 percent with exports recorded at $
3861.57 million in fiscal 2007-08 as
compared to $ 3812.88 million in financial
2006-07.
Top export markets for the Indian
Gem and Jewellery products
Ò The United States ± 28%
Ò Hong Kong ± 21 %
Ò UAE ± 15%
Ò Singapore ± 9%
Ò Belgium ± 8%
± gold is the only form of international
monetary reserves, hence a balance-of-
payments deficit (surplus) causes gold
outflow (inflow)
± country must guarantee complete back-
up of domestic currency with gold
Balance-of-Payments Adjustment
Mechanism Under Gold Standard
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History of Gold Prices
Procedure for Export of
Gold
(i) the shipping bill and the invoice along with
packing list presented to the authorized
officer shall contain the following:
(a) description of the items;
(b) weight and purity of gold or silver or
platinum and the type of gems stone, such
as, diamond, ruby, sapphire, cubic zircon
and the like which has been used for
studding and its weight in carats; and
(c) free on board price rate of the jewellery
item and quantity in pieces and the total
value;
(ii) the Unit may export jewellery on the basis of a
notional rate certificate issued by the Nominated
Agency and this rate will be based on the
prevailing Gold or US Dollar rate and the US
Dollar or Indian Rupees rate given in the notional
rate certificate.
Provided that the certificate issued by the
Nominated Agency shall not precede the date of
shipment by more than three working days or as
may be notified by Central Government;
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A EA & E
Risk involved- volatility of price
fluctuations.
Demand for gold reduced by 20-
25% in the last fiscal year.
Studded Jewellery movement
has not been affected to a great
extent.
Plain gold (gold bars), the
demand has reduced.
Gold in Recession