Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

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COIN FABRICATORS SEASONALITY Most coins tend to be sold at the time of festivals and during the marriage seasons. Many fabricators and retailers report that about 50% of annual fabrication and sales occurs around Diwali (October-November). QUANTITY Generally, large jewellery retailers report that their coin sales would range from less than 1% up to 5% of their turnover. Some fabricators and bullion dealers also retail directly to corporate companies and the public. Coin sales appear to be higher in large cities. For most small urban and rural jewellery retailers, sales seem to be non-existent or extremely low. Private demand in the west and south also appears to be higher than in the north and east. Estimating the size of the coin market is extremely difficult as fabrication is so fragmented. Informal trade estimates suggest (at this time) that 15 tonnes may be fabricated in the west, 10 - 15 tonnes in the south and less than 10 tonnes in the north. Fabrication in the east is reported as low, probably less than 5 tonnes. An indicative fabrication estimate for 2001 is 35 tonnes of fine gold. This would equate to about 40 tonnes by gross weight of carat gold coins. The quantity of coins fabricated for corporate purposes nationwide may exceed 10 tonnes. From the fabricator perspective, this would normally include not only tailor-made coins ordered by corporate companies but also tailor-made branded coins for jewellery retailers that may sell them to both corporate companies and the public. Some Indian analysts believe that coin fabrication for corporate and private use may have been 50 tonnes, perhaps as high as 70 tonnes, in 2001. This may be the case but, when GIR visited major coin fabrication centres in the north, notably New Delhi, Meerut and Agra, gold coin output appeared to be low (while silver coin fabrication was extremely high). In addition, the bulk of small fabricators appear to fabricate less than 5 kg annually. Some large refiners also tend to include in their estimates minted coins and bars that are bought, or swapped for scrap, by jewellery retailers and then melted down for jewellery fabrication purposes. While the quantity of coins fabricated nationally for corporate and private use is an unresolved issue, the important point is that coin fabrication is substantial and overall demand, according to the trade, has grown at both corporate and private levels over the past 3-4 years, although there is variation among regions and States. EXAMPLES OF STANDARD MINTED COIN WEIGHTS Weights Mumbai Mumbai Mumbai Mumbai Ahmedabad Bangalore Cochin in grammes National Parekh Narrondass National Gujarat Bangalore Chemmanur Gold Platinum Manordass India Gold Refinery Gold Refinery Bullion Centre Refinery 100 100 - 100 100 - 100 100 50 50 50 50 50 - 50 50 25 - 25 25 25 - - - 20 20 20 - 20 - - - 10 10 10 10 10 10 10 10 8 * - - - - - 8 8 5 5 5 5 5 5 5 5 4 * - - - - - 4 4 2.5 - - - - 2.5 - 2.5 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 0.5 - - 0.5 0.5 - 0.5 - Standard purity 995 999 995 995 999 999 999 * 8 g and 4 g coins are normally K22. Most refineries will also tailor-make coins and bars to any specified weight, purity, caratage and design. Rectangular bars National Refinery None. Parekh Platinum 100 g, 50 g. Narrondass Manordass In all weights. National India Bullion In all weights. Gujarat Gold Centre 50 g, 20 g, 10 tola, 5 tola, 1 tola. Bangalore Refinery In all weights, except 8 g and 4 g. Chemmanur Refinery In all weights, except 8 g and 4 g. 84 AN INTRODUCTION TO THE INDIAN GOLD MARKET
COIN FABRICATORS A bullion dealer that sells coins in Mumbai. Many coins are sold at the time of Diwali in October and November. Photograph: Parekh Organised fabricators produce tailor-made and well-packaged coins for hundreds of corporate companies and institutions. They are used as gifts and incentives for staff, trade customers and consumers. AN INTRODUCTION TO THE INDIAN GOLD MARKET 85
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AN INTRODUCTION TO THE INDIAN GOLD
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INDUSTRY SUPPORT MAJOR SPONSOR CORP
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PREFACE An Introduction to the Indi
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ACKNOWLEDGEMENTS GIR FIELDTRIPS GIR
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Raman Jethi Ramchand Popley Ramesh
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SUMMARY AND POSITIVE FINDINGS BACKG
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SUMMARY AND POSITIVE FINDINGS To ma
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SUMMARY AND POSITIVE FINDINGS The a
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SUMMARY AND POSITIVE FINDINGS POSIT
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SUMMARY AND POSITIVE FINDINGS INDUS
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ROLE OF INDIAN GOVERNMENT The India
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ROLE OF INDIAN GOVERNMENT The Depar
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ROLE OF INDIAN GOVERNMENT OFFICIAL
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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 and 52: MONSOONS PERFORMANCE OF SOUTH WEST
Page 53 and 54: IMPORTED GOLD BARS The 10 tola bar
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: COIN FABRICATORS Corporate gifts Al
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
Page 117 and 118: ADORNMENT DIMENSION Gold jewellery
Page 119 and 120: GOLD JEWELLERY CONSUMERS MARRIAGES
Page 121 and 122: GOLD JEWELLERY CONSUMERS Among larg
Page 123 and 124: GOLD JEWELLERY CONSUMERS RURAL VERS
Page 125 and 126: GOLD JEWELLERY CONSUMERS Gold jewel
Page 127 and 128: GOLD JEWELLERY CONSUMERS INDICATIVE
Page 129 and 130: 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
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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
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MUMBAI GOLD PRICES Indian gold pric
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MUMBAI GOLD PRICES INDICATIVE DIFFE
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MONTHLY 2000 - 2001 2000 MUMBAI LON
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PRICING AND PROFITABILITY Bank impo
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Recycling of old gold scrap and bar
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JEWELLERY WHOLESALERS Jewellery who
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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
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GOLD SUPPLY AND DEMAND Movements in
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GOLD SUPPLY AND DEMAND The trade at
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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
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WORLD GOLD COUNCIL TRADITIONAL GOLD
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WORLD GOLD COUNCIL LOCAL FESTIVALS
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WORLD GOLD COUNCIL YOUNGER GENERATI
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Indian Overseas Bank Precious Metal
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REFINERS AND COIN FABRICATORS WEST
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BIBLIOGRAPHY Agricultural Statistic
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ABOUT GRENDON INTERNATIONAL RESEARC
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