Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

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50 Imported gold bars International bar manufacturers International gold dealers Gold weight conversion table LBMA and London Gold Fixings CONTENTS Bullion importers Gold imports for domestic consumption 1990 - 2001 Banks Gold Cell services Gold Cell branches Gold Deposit Scheme Bank programmes Participating bank branches Historical Government gold bond schemes 1962 - 1993 Public Sector Undertakings Gold Cell services Gold Cell branches Non-Resident Indian (NRI) Gold Import Scheme Other Sections Bullion dealers Gold refiners Coin fabricators Bar hoarding Bulk delivery of official gold imports CHAPTER 4 GOLD BULLION AN INTRODUCTION TO THE INDIAN GOLD MARKET
IMPORTED GOLD BARS The 10 tola bar (3.75 oz) dominates the Indian gold bullion market. More than 95% of gold imported for the domestic market is in the form of these small cast bars, widely known as TT bars or biscuits. Most imported TT bars are produced by 8 major gold refiners in Switzerland, South Africa, Australia and the United Kingdom. In recent years, India has imported 5 – 6 million TT bars annually. 10 TOLA BARS Domestic fabricators and retailers rely on TT bars. The bars enable the trade to buy and sell gold in small quantities, often on a daily basis, in a market where the gold price cannot be hedged. A TT bar has a gross weight of 10 tolas, equivalent to 3.75 oz or 116.638 g. At the standard millesimal gold purity of 999, its fine gold content is 3.746 oz. The fine gold content at other purities is defined by the London Bullion Market Association (LBMA): 3.731 oz (995) and 3.750 oz (999.9). As an Indian unit of weight, the tola has been used since 1836, when England’s East India Company administered much of India. Tola is a Hindi word, derived from the Sanskrit word tula, defined as a balance, scale or weight. KILOBARS Kilobars are popular among jewellery exporters. Jewellery exporters tend to be large fabricators. They are also able to loan gold at an unfixed price from banks and other importers such as MMTC Limited. Unlike fabricators for the domestic market, their stock of gold is not exposed to movements in the gold price during the process of fabrication and sale to overseas customers. The fine gold content of a kilobar (1000 g) in troy ounces at different purities is defined by the LBMA: 31.990 oz (995), 32.119 oz (999) and 32.148 oz (999.9). Most imported kilobars have a purity of 995. In recent years, India has imported around 30 – 40,000 kilobars annually. The standard millesimal purity of TT bars is 999. AN INTRODUCTION TO THE INDIAN GOLD MARKET 51
Page 1 and 2: AN INTRODUCTION TO THE INDIAN GOLD
Page 5 and 6: INDUSTRY SUPPORT MAJOR SPONSOR CORP
Page 7 and 8: PREFACE An Introduction to the Indi
Page 13 and 14: ACKNOWLEDGEMENTS GIR FIELDTRIPS GIR
Page 15 and 16: Raman Jethi Ramchand Popley Ramesh
Page 17 and 18: SUMMARY AND POSITIVE FINDINGS BACKG
Page 19 and 20: SUMMARY AND POSITIVE FINDINGS To ma
Page 21 and 22: SUMMARY AND POSITIVE FINDINGS The a
Page 23 and 24: SUMMARY AND POSITIVE FINDINGS POSIT
Page 25 and 26: SUMMARY AND POSITIVE FINDINGS INDUS
Page 27 and 28: ROLE OF INDIAN GOVERNMENT The India
Page 29 and 30: ROLE OF INDIAN GOVERNMENT The Depar
Page 31 and 32: ROLE OF INDIAN GOVERNMENT OFFICIAL
Page 33 and 34: ROLE OF INDIAN GOVERNMENT In summar
Page 35 and 36: ROLE OF INDIAN GOVERNMENT GOLD CONT
Page 37 and 38: ROLE OF INDIAN GOVERNMENT LICENSED
Page 39 and 40: MAP OF INDIA There are 28 States, 6
Page 41 and 42: POPULATION URBAN AND RURAL State Mi
Page 43 and 44: POPULATION HOUSEHOLDS - SPLIT BY SO
Page 45 and 46: ECONOMIC INDICES STATES - INDICATIV
Page 47 and 48: AGRICULTURE VALUE OF AGRICULTURAL O
Page 49 and 50: AGRICULTURE MAJOR CROPS - NORMAL AR
Page 51: MONSOONS PERFORMANCE OF SOUTH WEST
Page 55 and 56: IMPORTED GOLD BARS 10 TOLA BARS AGR
Page 57 and 58: IMPORTED GOLD BARS GOLD WEIGHT CONV
Page 59 and 60: The fine gold content of a London G
Page 61 and 62: BULLION IMPORTERS UNOFFICIAL IMPORT
Page 63 and 64: BANKS IMPORTED BULLION PRODUCTS Ban
Page 65 and 66: WHOLESALING TO DOMESTIC BULLION DEA
Page 67 and 68: BANKS BACKGROUND INFORMATION ON BAN
Page 69 and 70: BANKS GOLD CELL BRANCHES Region/Sta
Page 71 and 72: GOLD DEPOSIT SCHEME DISTRIBUTION Th
Page 73 and 74: GOLD DEPOSIT SCHEME The State Bank
Page 75 and 76: PUBLIC SECTOR UNDERTAKINGS BRANCHES
Page 77 and 78: Region/State City MMTC HHEC STC PEC
Page 79 and 80: NON-RESIDENT INDIAN (NRI) GOLD IMPO
Page 81 and 82: BULLION DEALERS A secondary tier bu
Page 83 and 84: GOLD REFINERS SMALL REFINERS There
Page 85 and 86: COIN FABRICATORS Corporate gifts Al
Page 87 and 88: COIN FABRICATORS A bullion dealer t
Page 89 and 90: BAR HOARDING Some trade entities in
Page 91 and 92: BULK DELIVERY OF OFFICIAL GOLD IMPO
Page 93 and 94: BULK DELIVERY OF OFFICIAL GOLD IMPO
Page 95 and 96: PERSPECTIVE INDIA The gold jeweller
Page 97 and 98: GOLD JEWELLERY PRODUCTS Handmade je
Page 99 and 100: REGIONAL JEWELLERY STYLES KOLKATA K
Page 101 and 102: REGIONAL JEWELLERY STYLES AHMEDABAD
Page 103 and 104:
REGIONAL JEWELLERY STYLES SWAMI JEW
Page 105 and 106:
JEWELLERY FABRICATORS All centres,
Page 107 and 108:
JEWELLERY FABRICATORS JEWELLERY WHO
Page 109 and 110:
TRADITIONAL JEWELLERY RETAILERS Sta
Page 111 and 112:
TRADITIONAL JEWELLERY RETAILERS Coi
Page 113 and 114:
TRADITIONAL JEWELLERY RETAILERS ANT
Page 115 and 116:
TRADITIONAL JEWELLERY RETAILERS Man
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ADORNMENT DIMENSION Gold jewellery
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GOLD JEWELLERY CONSUMERS MARRIAGES
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GOLD JEWELLERY CONSUMERS Among larg
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GOLD JEWELLERY CONSUMERS RURAL VERS
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GOLD JEWELLERY CONSUMERS Gold jewel
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GOLD JEWELLERY CONSUMERS INDICATIVE
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LUNAR CALENDAR Mumbai (Maharashtra)
Page 131 and 132:
BRANDED JEWELLERY RETAIL CHAINS DIS
Page 133 and 134:
Region/State Gili Tanishq Carbon In
Page 135 and 136:
HALLMARKS In accordance with BIS pr
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HALLMARKING Most jewellery in the W
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SOURCES OF GOLD BULLION Jewellery e
Page 141 and 142:
Location US dollars in millions % S
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Plain gold jewellery Location US$ m
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INDUSTRIAL GOLD USAGE Since the rep
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INDUSTRIAL GOLD USAGE IMITATION GOL
Page 149 and 150:
MUMBAI GOLD PRICES Indian gold pric
Page 151 and 152:
MUMBAI GOLD PRICES INDICATIVE DIFFE
Page 153 and 154:
MONTHLY 2000 - 2001 2000 MUMBAI LON
Page 155 and 156:
PRICING AND PROFITABILITY Bank impo
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Recycling of old gold scrap and bar
Page 159 and 160:
JEWELLERY WHOLESALERS Jewellery who
Page 161 and 162:
Hallmarking charges The few hundred
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PRICING AND PROFITABILITY MINTED CO
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GOLD MINING AND EXPLORATION For 36
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Year Tonnes Year Tonnes 1970 3.241
Page 169 and 170:
GOLD SUPPLY AND DEMAND Movements in
Page 171 and 172:
GOLD SUPPLY AND DEMAND The trade at
Page 173 and 174:
For the domestic market 1990 - 2001
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GOLD SUPPLY AND DEMAND INDICATIVE G
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GOLD SUPPLY AND DEMAND INDICATIVE A
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WORLD GOLD COUNCIL The World Gold C
Page 181 and 182:
WORLD GOLD COUNCIL TRADITIONAL GOLD
Page 183 and 184:
WORLD GOLD COUNCIL LOCAL FESTIVALS
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WORLD GOLD COUNCIL YOUNGER GENERATI
Page 187 and 188:
Indian Overseas Bank Precious Metal
Page 189 and 190:
REFINERS AND COIN FABRICATORS WEST
Page 191 and 192:
BIBLIOGRAPHY Agricultural Statistic
Page 193 and 194:
ABOUT GRENDON INTERNATIONAL RESEARC
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