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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

A shakeout in India’s $27bln gold loan market

Posted on 25 January 2013

India’s $27 billion gold loan market is undergoing a shakeout, with the new norms being put in place by the stock market regulator and the apex bank. With gold demand from India rising from 462 tonnes in 2000 to an estimated 1,079 tonnes in 2012, both gold exchange traded funds and gold loans have come under the scanner.
The Securities and Exchange Board of India, the country’s stock market regulator, has proposed allowing gold exchange traded funds (ETFs) to park up to 20% of their gold holdings with commercial banks. The move aims to put the gold corpus of ETFs to productive use and help curb India’s huge gold imports………………………………………..Full Article: Source


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VRS - who has written 38515 posts on Opalesque Commodities Briefing.


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