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www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 102
GOLD Demand Fell In India during 2012: LITERATURE REVIEW According to the world gold council: As of 2010, it was estimated that approximately 168,300 tonnes of gold has been mined over the course of human history. Fifty percent of above ground stocks exist in jewellery form. Gold used in technological applications, dentistry and other forms of fabrication accounts for an additional 12%. However, it is more common to estimate the size of the financial or investable gold market by looking at private investment and official sector bullion holdings, which are considered to be in near-market form. Together, these two components account for approximately 36% of all above ground gold stocks or approximately 60,400 tonnes of gold. Using the 2010 average price of gold of US$1,224.52/oz, the size of financial gold holdings is equivalent to US$2.4tn. To put that into context, the gold market is larger than any single European sovereign debt market, yet it is no-one’s liability. The gold market is even comparable to the size of U.S. government-guaranteed debt (US$2.7tn), otherwise known as the agency market. By comparison, above-ground silver stocks represent a smaller market. Industry estimates suggest that identified silver bullion stocks by the end of 2009 were around 31,000 tonnes.Even with a conservative assumption that the actual amount of silver available to the market in terms of bars and coins is twice as large, at an average price of US$20.25/oz for 2010, the size of the financial silver market would be equivalent to $40.5bn dollars (less than 2% of the financial gold market). Furthermore, as of 2009, total above ground stock estimates for copper and platinum were a much smaller US$7.6bn and US$3.5bn respectively. According to the Reserve Bank of India: Gold has been perceived as ‘safe haven’ especially during periods of financial and economic stress. A ‘safe haven’ can broadly be defined as an asset that protects investors’ wealth against financial turmoil. Therefore, an asset with a stable real value or, at least a stable nominal value is an uncontroversial safe haven, as it allows its holder to resell it without loss at any time (Coudert & Raymond, 2010). Viewed from this aspect, gold possess almost all characteristics essential to be classified as a safe haven. During the last decade, volatility of gold prices has been higher than that of sovereign bond markets but lower than riskier assets like equities and other commodities. There is some empirical evidence that gold could be a hedge even against stocks, though only in the short run (Baur and Lucey, www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 09, July-2013 Page 103
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Table of Contents Articles THE GLOB
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The capital market of a country can
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Figure 1: Components of Indian Fina
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esults as regards the stability of
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10. Hasan, M., K., Haque, M., & Law
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In the first stage of development,
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References: 1. Krishnamacharyulu CS
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and the additional procedures neede
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TO FIND THE RELATIONSHIP BETWEEN ST
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Table No.8: Association between Inv
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The foremost factor to be considere
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economic and social. Some people ma
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eliance, and transparency (Gain Raj
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loans/borrowings has been invested
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Pressure Nowadays, management is in
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includes the red flags that were ex
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sec110.01). However, it did establi
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The Impact of Macroeconomic Factors
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Bajaj 2.53 0.003 4.38 0.24 1.68 -0.
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Nestle 2012 ITC 2012 Q1 -0.28 -0.28
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Suzuki 2011 .22 1.82 1.91 1.87 1.99
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performance performance From the ab
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7 FINDINGS Risk Return Analysis In
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1. Review of Literature Table 1: Su
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Building on the Markowitz framework
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NFL -4064 -8453 -2516 -3477 -1995 -
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