The glory of GOLD!

Consantly rising value

As seen, price of gold continuously increased from 2007 to 2012.But now we see a down word trend in gold rates,since march 2013. Government of India fixed higher tax to curb gold import, but now it is again relaxed.

The reason is that, some countries with higher gold stock are selling a part of their stock, for different reasons

Silver price also shot up then.Why? Silver is now more needed in industries, and its available in lesser quantity.AS American dollar is now firm,and gulf countries are in turmoil, investors are thinking that gold and silver are better investments.Now, in January 2012, experts then said that gold and silver rates still increase as they appear to be only good store of value when compared to Shares and stocks.

But now, the scene has changed, since March,2013.It is decreasing.The reason is-lesser demand.AS result, share market is on the rise.

Availability

Gold is available in all continents in the world, except, Antarctica .But in many places it is available in small quantities, and hence , excavation is not profitable. So, it is unearthed in some parts of the world only. Perhaps, Africa produces largest amount of gold in the world. Its share in gold production is, 72%.

It is estimated that, it is possible to unearth about 38000 tonnes of gold yet, in the world, as per calculations made on the basis of available quantum of gold en ore.So far, since the beginning , about 1,47,000 tonnes of gold has been excavated in the world.Out of this, more than 60% has been dug out in the past 60 years(Since 1950) The remaining AVAILABLE QUANTITY OF GOLD COULD BE EXTRACTED IN THE NEXT 15 YEARS..But, unlike other metals, gold will be always available. That means, it withstands the test of time without getting rust or any such thing. In this sense, gold is an 'immortal ' metal.other metals can hardly be brought to market, after the first use. But, gold bears that character. That means, it has 're-sale value' better than any other metal or material. That makes gold more attractive, apart from its luxurious appearance.

production and sale

As per available information, annual gold production in the world is 2500 tonnes per year.Taking 're used' gold into account, the total availability of gold comes to 3500 tonnes pr year.

Top10s

South Africa, Turkey, are the countries occupying first two places in gold production.The total production of gold by top 10 gold producing countries is 1861 tonnes..But top 10 purchasers of gold require 2300 tonnes of gold for their use!

India

In India, case is different. With the falling of rates, though the government has put some restrictions on import by increasing taxes,demand has risen by 27% in April 2013 only.Indians traditional love love for gold id the reason


  Golden bars
Golden bars
  Royal gold coins.
Royal gold coins.
  Authentic gold biscuits
Authentic gold biscuits
  A golden crown
A golden crown
   Lots and lots of gold biscuits-but not for all!
Lots and lots of gold biscuits-but not for all!
  A beautiful golden necklace-this design is popular in both eastern and western cultures
A beautiful golden necklace-this design is popular in both eastern and western cultures
  Gold chains of various designs.
Gold chains of various designs.

Use of Gold

67% OF GOLD IS USED FOR ORNAMENTS.22 % IS USED FOR INVESTMENT PURPOSES. 7% is used ion electronic industries and 2%in dentistry.

The annual demand for gold is 3500 tonnes. out of this, 500 tonnes is used for investment.

The 'Goldy' india

INDIA IS PERHAPS OCCUPYING THE FIRST PLACE IN PURCHASING GOLD.While its gold production is just 0.3% , its annual consumption is 650 tonnes.Indians own 10% of gold available in the world.According to a report, Indians own about 15,000 tonnes of gold.

The 'World gold organization' in its report, has stated that the demand for gold for ornamental purposes increased only by 3% in 5 years, i.e. between2003 and 2008., while, demand for investment purposes has raised by 23%.this shows that gold is considered as ' a store of value'

Jewelery is an art, nourished by many countries like Greek, United Kingdom, India etc.Indian jewelery has a different type of aesthetic sense, which could be read in another hub 'Indian jewels-a blend of beauty and aesthetics' by this same hubber.

Latest news

Latest news about India is this: In March 2010,India has purchased about 3 tonnes of gold for jewelery purpose. It is expected in the market that, in April and May,the import will increase.It is strange that, in spite of such huge price hike ,so much gold is being purchased here. Who says India is poor?

Recession in America

Recent recession in America,as indicated by the 'Standard and Poor' rating organization,has created turmoil in almost all parts of the world.It crippled the stock Exchanges in Major countries like India,England, Japan,etc for 4 days and share prizes decreased.As a result,investors turned their backs to share market and started investing on gold. So,gold rate jumped from Rs.21,000/-in January this year,to 26,000/-by mid August,2011.Jewelers are telling that it may reach Rs.30,000/- mark (per 10 grams) by December.

Recent trend-2011 Dec

By now, slight recession is found in Gold prices in India.It came down to Rs.28,000/- plus.Even by the end of First week of January 2012, it had not come even to Rs.28,500/-.But traders say even this is not the true value of gold. This price is there as Rupee value has gone down.If that was as in the beginning of 2011, then the gold price here would have been less than 28,000/-,

Recent trend-Dec. 2012

Gold rate continued to be on increasing side through out 2012.In Dec.2012,it costed little more than Rs. 32,000.It had also reached Rs.34,000/one time during 2012.

But still, gold is an attractive field for investment as share and stock market is continuously showing the bear trend.

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Comments 11 comments

ratnaveera profile image

ratnaveera 7 years ago from Cumbum

Dear sir, Thank you very much for giving great informations about the valuable metal Gold and all of the Gold photos are nice to see! This will be really interesting hub for those who love Gold.


Rudra profile image

Rudra 7 years ago

No doubt, gold does glitter well. The site of gold is so amazing.


glassvisage profile image

glassvisage 7 years ago from Northern California

Gold is certainly beautiful... We just came back from vacation in Europe, and gold adorned all of the most amazing palaces and monuments. They were amazing!


prasadjain profile image

prasadjain 6 years ago from Tumkur Author

SOME MORE NEWS

Here is some LATEST NEWS ABOUT GOLD PURCHASE IN INDIA.

1.From April 1 2009 to March 31,2010 India imported 346.8 tonnes of gold.

2.In FEb.2010, 28.8 tonnes of gold was imported.

3.In March 2010 only,27.8 tonnes of gold was imported.

4. In Dec.2009,price of gold in India was Rs.18,500/- for 10 grams.In April 2010 now, the rates is 16000/-.So,investment on gold has rised.


jewellery channel 6 years ago

many thanks for such great hub...


legetøj 5 years ago

gold make people fight


prasadjain profile image

prasadjain 5 years ago from Tumkur Author

Thank u friends, for your appreciation


marissa 5 years ago

thats a lots of gold


prasadjain profile image

prasadjain 5 years ago from Tumkur Author

Come on marissa,grab it and enjoy!


Vijayavel.K 4 years ago

Valuable information about valuable metal....


prasadjain profile image

prasadjain 4 years ago from Tumkur Author

Now the rates have again rises-indicating that hoarding has increased!

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