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Gold: Ornaments, Uses, Consumers, Investors, history and Gold Market in India

Updated on July 18, 2016

Gold-Silver shop in Jaipur

A gold jewelry and silver articles shop in Jaipur. Photo taken on Dhan Teras festival.
A gold jewelry and silver articles shop in Jaipur. Photo taken on Dhan Teras festival.

History of gold in India


Gold is forever. People consider gold as a true asset. Since time immemorial, it is one of the costliest metals. It's glitter attracts people and they love to wear it as ornaments. Gold has no or minimum effect of weather changes on it. Its rarity makes it expensive and everybody likes to possess it. It has a universal value that has never changed (with time). Governments and central banks keep it as reserves. most of the persons, rich or poor, like to keep their savings in the form of gold.

Indians are in love with Gold:

The predominant population of India is Hindus. They believe gold as a metal of gods and monarchs. Hindu religious books have mentioned gold as a commodity of immense value. People in India wear gold Jewelry for ornamental value on most of the social functions, festivals, and celebrations. Hindu culture and their love for gold have influenced people of other religions in India. Therefore, all most all women in India like to wear gold Jewelry irrespective of their religious belief, social and cultural background. A large number of Indian men also wear gold Jewelry in the form of chains, bracelets, and rings.

Gold Ware Bracelet, French

French - Cannetille Ware Bracelet - Walters- This is an excellent, rather sumptuous example of cannetille work, which is more generally found in brooches or parures. The gold is of an attractive warm color suggesting some iron was used in the alloy..
French - Cannetille Ware Bracelet - Walters- This is an excellent, rather sumptuous example of cannetille work, which is more generally found in brooches or parures. The gold is of an attractive warm color suggesting some iron was used in the alloy.. | Source

India, world's biggest consumer of gold


There are historical reasons for being the biggest importer of gold. India had been enjoying the status of most advanced and rich country in the world for millenniums. India was called golden goose at those times. India had been exporting silk, spices, speaking parrots and many other consumer goods to Romans, Greeks, and Egyptians in ancient times. India was the biggest producer of consumer goods at that time. India was the biggest exporters too.

India had claimed two third of global exports at that time. They were exporting a lot but had nothing to import. Therefore, they imported gold and gemstones against their export. India has accumulated a huge quantity of gold and it continues to do so. It is believed that India possesses at least twenty percent of total gold in the world. India consumes the highest quantity of gold in the world amounting to 700 tonnes per year that is about four times of the US.

India produces a huge quantity of gold Jewelry. Adherence to ethics made Indian Jewelers trustworthy. Gold also enjoys safe-heaven status for investment.

Top 10 Reasons why Indians Love Gold - Really Funny

Gold import and the government policy


Official gold import of India has estimated at eleven hundred tons. This figure does not include gold jewelry import and gold smuggled into India. It is generally assumed that India imports more than three thousand tons of gold.

In the sixties, the Indian government had imposed a ban on official import of gold except against value added export of gold jewelry. Therefore, there was no official import those days. The only channel for import was smuggling. In 1992, the government has liberalized its policy and permitted non-resident Indians to bring in five kilograms of gold per person on payment of import duty in hard currency. The government has further liberalized gold import policy and allowed ten kilograms per person. Indian government now allows official gold import.

UPDATE April 20, 2015

The government of India has taken a policy to reduce gold consumption thus gold import in India. The government has been using several methods to reduce it. An extra import duty is imposed on gold imports to discourage people from importing gold.

The government of India has made it compulsory to mention PAN card number on every purchase above Rs. one Lakh. We know that black money is extensively used for purchasing gold and mentioning PAN card number is a check on black money.

The Indian government, by taking these measures are able to reduce gold import in India.


Antique gold earrings, South India

Pair of Earrings in the Form of Dancing Elephants. India, Deccan, 19th century Jewelry and Adornments; earrings Gold inlaid with rubies and sapphires
Pair of Earrings in the Form of Dancing Elephants. India, Deccan, 19th century Jewelry and Adornments; earrings Gold inlaid with rubies and sapphires
 Royal gold earrings from Andhra Pradesh in India,  1st Century BC
Royal gold earrings from Andhra Pradesh in India, 1st Century BC | Source

Gold and Gold jewelry in India


India has witnessed income tax slab up to ninety-seven percent at one point in time. This resulted in large-scale tax evasion. The tax reforms of the last several years have indeed reduced the level of evasion. The parallel economy of black money is continuing in the country even today. One cannot keep cash that is black money in Banks. If they do so; they cannot hide it from the tax authorities. The most convenient way to keep unaccounted wealth is in the form of gold Jewelry.

Black money is still a concern for Indians. It is increasing due to corruption.

Moreover, Indian rupee had been continuously depreciating against hard currencies in the twentieth century. It encouraged investors investing in gold at that time. Despite price fall in dollar terms, gold has shown an uptrend in Indian rupee on the long-term basis. Therefore, Indians continue to believe gold as a safe tool for investment and hedge against inflation.

Gold price in India is higher than the international price because of import duty. Kolar is the only gold mine in India that produces a small amount of gold. Due to huge consumption of gold in producing Jewelry and inadequate production, India continues to depend on import.

Gold Jewelry

Some other reasons of popularity of gold


A Large population of India lives in villages. Many of them, in recent past, were too poor to have proper living arrangements. These poor people had negligible assets. They wanted to keep it in their physical possession all the times because they had not even residences to keep it. Hence, wearable gold Jewelry was the only option for them. Floods and droughts were a continual phenomenon of their lives. Those forced many villagers to flee to safer places. It was easy to carry gold Jewelry while fleeing in distress. They used to sell or mortgage it while in crisis and purchase it in good times.

Approximately ten million marriages occur in India every year. India has a tradition of gifting gold in the marriages. Rich, middle and poor all of the classes bestow gold in the form of Jewelry upon their daughters. Rich and middle classes also have a trend of presenting gold Jewelry to the near relatives of the bride and the groom in marriages. These marriages require about one thousand five hundred tons of gold every year. It is evident that gold demand in India cannot easily go down.

Agriculture is the base of Indian economy. Gold Jewelry is popular among farmers too. Gold jewelry sales spurt after a bumper crop.

There are many religious, social and cultural festivals in India. Affluent people generally present gold ornaments in these festivals to females in their family.

Antique gold necklace, India

Adiya necklace from India, 19th century, gold, rubies, clear stones, pearls and emeralds, Honolulu Academy of Arts
Adiya necklace from India, 19th century, gold, rubies, clear stones, pearls and emeralds, Honolulu Academy of Arts

Gold Jewelry in India


The jewelers use gold in diamond and color stones studded jewelry (studded with ruby, sapphires, coral, emerald, pearl, tourmaline etc) besides plain gold Jewelry. They also use it while producing Kundan Meena Jadau Jewelry. India consumes as well as exports gold, diamond and Kundan Meena Jadau Jewelry and articles. All these require a lot of gold.

India has grown as a major player in the software and BPO markets. Indian software engineers are highly rated in developed countries (US, EU, Canada, Japan etc). Non-resident Indians are very rich. They are the main sources of hard currency required for gold imports.

Some other uses: Rich people use golden embroidery in their expensive dresses. Some ayurvedic and homeopathic medicines contain gold. Some people embed gold in the foundation of a new house. They consider it very auspicious. Some people place some gold in the mouth of a dead body at the time of the funeral. Painters use gold in their paintings. It is a common trend in India to gold-paint idols, temples, and monuments. Gold painted handicraft items are also popular in India. Thin flaps of gold (Vark or Tabak) are also used in the expensive sweets. Gold has some industrial uses too.

It seems that Indian Gold demand will remain high with the economic prosperity of the Indians.

About Kundan Meena Jadau Jewelry

Gold shopping Festival of India: Dhan Teras and Akha Teej


India is a place of festivals and India has a love for gold. Hence, both festival and gold are amalgamated in India. Indian people love to buy gold, especially when in the festive mood. Akshaya Tritiya (Akha Teej) and Dhan Teras are special days among festivals of India for buying gold and silver.

North Indian people prefer to buy gold and silver on Dhan teras and Diwali whereas South Indians on Akha Teej. Both these festival days are considered auspicious for buying gold and silver in India.

People of India believe that gold and silver bought in these days of the festival brings wealth and happiness. It is almost customary to buy gold and silver on Akha Teej, Dhan Teras, and Diwali.

Infrastructure development in India

 Rajiv Gandhi Water Sports Complex at Port Blair, Andaman and Nicobar islands, India
Rajiv Gandhi Water Sports Complex at Port Blair, Andaman and Nicobar islands, India | Source

Shifting from gold to infrastructure


Indian economy requires a change. Shifting investment from gold to infrastructure will be beneficial for the Indian economy. Change in attitude may benefit India this particular time. It seems that gold price will go down globally in near future. India, China, and the Middle East have been the major buyers of gold in recent years. China has been exporting much and has a huge trade surplus. It has been buying gold out of that surplus. However, its export and trade surplus has also been declining.

The crude price soared in recent past that enabled Middle East countries to purchase more gold. Now the crude price has shown a low of $ 33 (19 Dec. 2008). Fall in crude price has seriously affected their purchasing power. Moreover, Saudi prince has lost huge money in City Bank downfall. IMF has also declared its intention to sell one thousand tons of gold. All these will affect gold demand and its price.

India has accumulated a huge quantity of gold but it lacks in infrastructure. India needs huge investment in infrastructure sector. They are looking for foreign investment in this field that is not likely to come easily. India cannot maintain its growth rate without a huge investment in infrastructure. It also needs to put money in agriculture sector but there is not enough money.

It is better for the Indian government to encourage people to convert their gold investments into infrastructure investment. If they come with a policy for the same it can change the economic destiny of Indians.


Gold and copper deposits found in India

Gold mining and underground gold reserve in India


Indian gold mining history goes to 4000 - 6000 BC. Kolar (Karnataka, India) is the oldest and deepest underground gold mines in the world spread in 8X2 KM area. Though the government has closed this mine due to cost factor in this 3200-meter deep mine, there are about 120 KM X 8 KM area is still unexploited.

Similarly, under earth gold reserves are found in Several Indian regions likes of Goa (Estimated reserve 6000 metric tonnes of gold), Alwar in Rajasthan and Chhattisgarh state. India has 9% of world's total gold reserve according to an estimate.

Australia has been doing extremely well in exploring and producing gold since 1980. It has already produced more tan 3700 tonnes of gold and has estimated reserve of 4600 more tonnes under the earth. Now Canada is following the same path. However, the process of exploration is very slow in India and despite huge reserves, the country is not producing much of gold.

Geologically India is part of Gondwanaland as Australia. Hence, there is a high probability of finding more gold reserves. Large numbers of geologists worldwide believe that India may have 20 percent of estimated hundred thousand tonnes of underground gold reserve.

New and effective government policy, enthusiasm and opening up investment in this sector is required along with the application of modern technologies to be a big producer of gold. Having been done these, India may convert from an Importer to an exporter of gold in the future.

Process of excavating and refining gold

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    • profile image

      Mamady Konate 3 years ago

      Dear Madam and Mr,

      We are looking for partner in building a local mining company or serious buyers of AU Gold and rough and uncut Diamond, my father and others are local sellers and miners of Gold and Diamond here in Guinea, they want to get money to help our families as you know here in Africa we have many people in our families, they are counting on some people who went to school to help them but these people just want to steal their products even the government promised to help our community but since my father gave them produts they've been just telling story every day, every time. This is the reason why our community decided to contact the good people.

      Due to the way they are mining their products many people are trying to teach them because they don’t know the world market even some mandates and buyers rep have come and carried their products on credits and they have never come back to pay their money. Right now i want to get them serious people who can help them to sell their products following the market. At the moment they have GOLD DUST / BARS and ROUGH/UNCUT DIAMOND in large quantities for sale at cheap price.

      They need people like you, people over there to help them develop their goal, so that they can help our community, because people sicks and dies because no money. They have the products but they are very poor here because of the way the government and some people are treating them, they want serious buyers to be their eyes and mouths, they are ready to give you goods if you are serious and ready to open a local mining company with them to work together and help them and you in mutual benefit or help them buy their products so that they can at least buy mining equipment such as, bulldozers, tractors, excavators, wheel loaders, backhoe loaders, motor graders, dump trucks, crushing equipment, and etc as we need to enhance our mining productivity. We will give you good price far below the word market price.

      Hope to hear from you soon.

      Thank you,

      Mr Mamady Konaté

      Community representative

      Siguiri Gold and diamond local

      mining community company,

      S.A zone C industrielle,

      Siguiri-BP:3005, Siguiri,

      Republue de Guinea

      E-mail: k.mamady82@yahoo.fr

      Tel: +22465762925

    • profile image

      aliconte 3 years ago

      Good Day Sir

      We are direct seller of gold dust and bars, rough and uncut diamonds,

      scrap metals and scrap coppers, used rail, scrap battery,hms1/2

      ,Aluminum and stainless steel we sale 15%below international market

      rate,,we are mandate for crude oil also if you are interested you

      should kindly contact us for more details,

      Therefore I will like to hear from you which will enable me to explain

      better to you. our company is in Guinea Conkry West Africa.

      email.conte.ali36@gmail.com

      aliconte82skype

      + 224655305922/00224662194527

      Regards,

      MR,Ali Conte

    • profile image

      ALPHA.KAMARA 3 years ago

      Dear/sir.

      We are local miners of gold and rough diamonds in the republic of Guinea and also representative of many local miners.

      We write to inquire if you are interested in our gold and rough diamond or maybe you have other reliable buyers that might develop interest in our product.

      We are direct contact for the said product and willing to offer you good (FOB) price. Presently we can supply 175kg monthly and there is a possibility of supplying 500kg on a spot deal.

      Please feel free to contact us for more details

      THANKS

      ALPHA

      au.alpha skype

      email:alphakamarataylor1@gmail.com

    • profile image

      CEO Mr Abou Ahmed. 3 years ago

      Greetings

      We have our legal precious metal license for gold export and import and we sell at very good price to buyers.

      We sale on FOB Procedure and CIF(to old costumers)We have this product for sale at a very good price.

      We also sale rough diamond of different colors, if you are interested for our diamond we will send the manifest

      to you and the photos of our product.

      SPECIFICATION OF OUR PRODUCT:

      Form= Gold dust / Bars

      Purity = 94% or Plus

      Fineness =22 Carat

      Price= $ 35,000 USD

      Quantity = Is Negotiable

      Origin= Mali

      I also have local made gold jewellery for sale at good price.

      Contact me now for more information.(abouhamed1111@gmail.com.)

      Best Regards,

      CEO Mr Abou Ahmed.

      abouhamed1111@gmail.com

    • profile image

      GALMARLEY LTD 3 years ago

      Dear sir/madam,

      We are Garlmarley Limited, exporters and sellers

      of gold,rough diamonds,HMS 1 & 2, gold Bullion, gold bar, gold dust,

      scrap metals, D2, JP54, Copper Cathodes, Silver, Coal, Sugar,Cement etc

      Tel +447031885524

      E_mail:galmarleyLtd@yahoo.com

      paul Tustain

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 4 years ago from Jaipur

      Thanks for your comment.

    • profile image

      Ron 4 years ago

      I truly appreciate this awesome hub.Thanks.

      Ron from Fitness http://www.intervalstraining.net

    • profile image

      musa keita 4 years ago

      KFDMININGGROUP (K.M.G) . WE WORK WITH GOLD MINES OFFERING HIGH QUALITY PRODUCT AND GOOD SERVICES, WE HAVE GOLD BARS AND DUST, AND WE ARE LOOOKING FOR A SERIOUS BUYER HWO WILL BUY IN A LAGER QUANTITY here in mali west africa.the gold dust is 22carat and the purity is 92.6pasentage.the gold price is 25000usd.we are looking a serious buyers who willcome down here in mali west africa to purchase the gold in our mining. we can deliver gold anywhere in the world like in europe and united state of american and asia .

      IF YOU WOULD BE INTERESTED TO BUY OUR PRODUCTS OR YOU KNOW OF ANY COMPANY DEALING WITH GOLD,AND THEY ARE READY TO PURCHASE IN BULK KINDLY CONNECT US TO THEM WE’RE READY TO MOVE OUR PRODUCT SO THAT YOU CAN COME AND VIEW THEM, KINDLY COMMUNICATE TO US VIA THE EMAIL BELOW.

      MUSAKKEITA@YAHOO.COM OR ,

      KFDMAINEGROUP@YAHOO.COM,

      SKYP MUSA.KEITA91

      THANKS LOOKING FORWARD FOR YOUR PROMPT RESPOND.

      REGARDS,

      MUSA.

    • profile image

      Conteh 5 years ago

      Minikoro Miners Association do hereby state that we are Ready, Willing and Able to Sale AU Metal Gold Dust of non criminal origin subject to a mutual contractual agreement with all pertaining documentation.

      Commodity: AU Metal Gold Dust

      Fineness: Not lower than 22 carats.

      Quantity: 50/200 kilos (option) with rolls and extensions. (First tranche)

      Negotiable 1 year contract with monthly tranches of any amount.

      Delivery: To be Negotiated. We can start with lesser quantity as first tranche

      Price: $35.000.00 usd. (FREE from all Liens and Encumbrances).

      Payment: By SWIFT Wire Transfer or as agreed between Buyer / Seller.

      Documents: Seller shall provide all relevant documents

      Shipment: Buyers will be responsible for shipment cost or as otherwise agreed.

      We shall assist in effecting delivery to buyers designated location in case buyer cannot come to Sierra Leone.

      We effectively handle shipment to any designated refinery/location as a licensed shipper

      After Assay Outturn Report is acceptable to both the Buyer / Seller, the both parties will then proceed to the Buyer Bank (subject to Banks working day timetable) whereupon the Seller will receive the agreed price of $30,000.00 usd per kilo.

      In the event of buyer not coming to Sierra Leone, seller will send a representative from Sierra Leone to buyer refinery to represent the seller.

      We make good our promises!

      Marketing Manager,

      Emmanuel Conteh

      skype:diamondgld4

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 5 years ago from Jaipur

      Hi Time traveller2,

      Thanks for commenting. Gold is important everywhere in the world. However, it is significantly important in Indian economy and culture.

    • TIMETRAVELER2 profile image

      TIMETRAVELER2 5 years ago

      I knew the Indian people wore a lot of gold, but never realized how important gold was in your country. Very interesting hub.

    • profile image

      Good Day, 5 years ago

      Good Day,

      With due respect, I introduce myself, we are dealers of Gold bar and gold dust, Diamond, and used raw materials and other used materials obtainable in Africa. I seek for buyer and represent companies in procurement of whatever is their need.

      I represent a lot of Local miners Co-operations or associations that jointly put their products together for sale, in Guinea and other parts of Africa and its sub regions.

      Respond if you are interested for more details. We can extend the quantity if you have more capacity.email:joshuakone560@yahoo.fr.

      Yours Faithfully

      Mr Joshua Kone.

    • profile image

      sesay moses 5 years ago

      Dear Sir or Madam

      We are gold dealers company here in Guinea.We also operate in Sierra

      Leone ear Sir/madam,

      that is the west cost of Africa.we are looking for serious

      buyers for our gold.Because now this our precious business is full of

      lie stories and bad people,we are only intrested in buyers that are

      really serious.On our side we have all legal required paper that will

      enable us to export gold to your final destination.Our CIF condition

      clearly explain it self on our FCO.

      The gold is in Dust the peurity is 95.2 carat.

      The Price is $38000 per kilo.any intrested person could contact us so

      we can discous the terms and conditions.

      Thanks

      Mr Moses Sesay

    • profile image

      Abdul mohamed 5 years ago

      Dear Sir/Madam

      We are please to introduce ourselves as one of the main supplier of

      the below Commodity. We are looking for interested Buyers.a God

      fearing person that can not put us to shame, we agree on the price we

      suply you and you do exactly what we agreed on, If you are interested.

      Please contact us now or you can also introduce us to other interested

      Buyers.My Name is Abdul Mohamed, A Native Of baloto in Siguiri village Guinea

      West African Country. I am a Member of the Community and Head of

      Sales, Marketing, advertising, communication and

      sourcing agent for our Gold Dust AU.Prior To The Latest Privilege

      Accorded to Local Gold Miners In Guinea Since 2007 To Market And Sell

      Gold Dust, Au Themselves, This is My Offer To All Gold Dust Prospective

      Buyers Willing To Establish Meaningful Business Transaction That Is

      Viable And Durable.and we have a representative who has a Belgian

      passport so we dont need a visa

      to travel any were,

      We can offer the following Commodity.

      Gold Bars /Dust 23kg ,

      Commodity..................... ...........Aurum Utalium (Au)

      Form.......................... ...............Gold Dust/Gold Bars

      Quality/Purity................ ..............22Carat+......Dust

      Finess........................ ................96.5%

      Location...................... ............... Guinee

      Origin........................ ................. Guinee

      Price per Kg................................$28, 500 USD/KG (Taxesinclusive)Dust

      Commodity...................................... Aurum Utallum

      Form...............................................Gold Bars,

      Purity................................................ 92.4 % like minimum

      Value 96.6% like maximum value.

      Price Per Kg...................................30,000 USD(Taxes inclusive)BARS

      Quantity Available................................ 26 Kgs.

      Please,If you are interested in transacting business with us kindly

      contact us.Subject to your satisfaction, We have map out a procedure

      in favour of buyers

      since Gold business this days is full of stories,

      buyer have to come down or send his rep., to come down to Guinea

      Conakry and test the Gold in Central Bnak of Guinea.After the test,

      the buyer is expected to pay the Government taxes to enable the

      seller get all required papers for shipment and before the buyer pays

      the Government taxes, Seller will give buyer Gold dust to hold as a

      Gaurrantee eqivalent to the Government taxes that the buyer will

      spend.

      OUR REGARD

      ABDUL MOHAMED

      CONTACT;+224-244-87932

      Email:investmentpureminerals@gmail.com

    • profile image

      CAMARA SIDIKI 5 years ago

      Dear Sir

      We saw your offer through one of the Metals buyer then I decided to contact you

      Such as Gold Dust, Gold Bar, Diamond, Copper, Aluminium; Cast

      We are representing a group of mining associations in Mali (West Africa) engaged in gold mining. We are looking for partners all over the world. These are our characteristics and conditions,

      FOB OFFERS

      1_ Buyer or his representative has to come and verify the evidence of the product Mali.

      2 _ Buyer have to pay cash after assy in Mali, but if buyer dont want to pay buyer have to support expenses of exportation as : custom fees, fiscal fees, insurance, fret , transit from Ghana to his destination ( Refinery)

      3 _ All those fees must be paid to the shipper by the buyer after sample test and weight accordingly .

      4 _ Seller or his representative have to follow the buyer with the consignment to the refinery and take in consider the quantity of impurity to be deducted from the initial total quantity.

      5 _ all expenses made by buyer must be refunded from what he will pay to seller after refinery.

      6 _ after the first transaction, buyer and seller will sign a revolving of 100 – 200 Kegs monthly.

      7 _ In case of intermediary who links us to a buyer, his commission will be mentioned in a particular agreement in accordance of the parties per kilograms.

      If you are interested by our proposal, please let us know in order for us to deal officially with

      REPLY bamakomining@yahoo.com

      Looking to hear from you

      Bamako Export Office Mali

      Marketing Manager

      Mr Musa Sule

      Export Office email bamakomining@yahoo.com

      Mining website www.maliminingexport.webobo.biz

      Skype Id musagold185

    • profile image

      Moussa 5 years ago

      Check before you hook yourself with scammer if you need gold come to Mali and check us at sogotrad-sarl

      moussadjila@rediffmail.com

      Thanks

    • profile image

      Dr Beniah 5 years ago

      Am Dr Beniah alfa Elochukwu, am from guinea conakry, am a local mining in guinea conakry l have gold dust for sale at the moment.any buyer get contact me directly.

      email address: edrbeniah@yahoo.com

      Rgads,

      Dr BENIAH.

      +224 24 08 27 32

    • profile image

      Gold Silver Tips 5 years ago

      Very good post, i was really searching for this topic as i wanted this topic to understand completely and it is also very rare in internet that is why it was very difficult to understand.

      Thank you for sharing this information.

      Regard

      Gold Silver Tips

    • Certified Gold profile image

      Certified Gold 5 years ago

      Very Interesting Hub! Keep up the good work!

    • profile image

      MR.GILBERT FOULA 5 years ago

      DEAR GOLD DUST/BAR AND UNCUT DIAMONDS BUYERS,

      WE ARE THE DIRECT SELLERS OF MINERALS HERE IN GUINEA-CONAKRY, WEST AFRICA. BELOW ARE OUR AVAILABLE GOODS FOR SALE ON COMPETITIVE RATES: GOLD DUST AND BARS (PURITY: 96.98%) ROUGH AND UNCUT DIAMONDS (5000+CARRAT) AND ALL KINDS OF SCRAP METALS LIKE COPPER SCRAP, HMS1&2, BATTERY SCRAP AND USED RAILS.

      CONATCT US VIA EMAIL IMMEDIATELY IF INTERESTED IN ANY OF OUR GOODS FOR MORE DETAILS AND EXPLANATIONS.

      BEST REGARDS

      MR.GILBERT FOULA

      +224 66636553

      GILBERTFOULA100@YAHOO.COM

    • profile image

      Sam okoh 5 years ago

      Dear sir/madam:

      We are global business consultant and business services located in Accra Ghana-west Africa. We provide project and marketing consulting services.

      We also offer business consulting services for international companies seeking to invest in Ghana. They come to us because we care about what's important to them: flexibility, cost-saving options, customer service, data quality, security, competitive pricing, accuracy, meeting deadlines, quick turnaround times, and the all-important intangible of going the extra mile.

      The local miners need to sell their gold to purchase some mining equipments. The available gold for sale is 50kg:

      Product:

      Au metal (gold)

      Origin: Ghana

      Type: alluvial

      Carat: 22

      Purity: 92 %

      Quantity; 50kg

      Price is $32,500 per kilo.

      The price is not only competitive but extremely moderate and the best in the market. If you notice or study the LBMA / LME has gone up, it made a huge increase in the past few days. Gold price for July 15, 2011 is currently worth $1,580 per ounce. There is 35 ounces in a kilogram so a kilogram of gold is worth $55,317.

      Shipment of gold will be made through a license shipping agent. All shipments must be accompanied by proper export documentation, including certificate of origin, ownership certificate, airway bill and previous assay report.

      Should you have the opportunity of providing mining equipment for them? I believe you can get them to do a long term supply contract with you.

      In case you are not in the position to buy, you can still stand as a middle person and have your commission after linked them with buyer within your location.

      I wait for your urgent action on this gold business. Should you be interested, please contact us for details.

      My Contact ( samokoh2011@yahoo.cn )

      Yours truly,

      Mr. Sam Okoh

    • profile image

      Mr.Robert Williams 5 years ago

      Kind Attn: Buyers

      We are searching in America,Europe and Asia for Alluvial Gold Dust Brokers/Buyers.So we are looking for buyers and an agent to sell our Gold Dust.If you are interested please contact me as soon as possible for more details, your commission is protected immediately after the contract is signed with us as an agent/broker.

      Product- AU GOLD DUST

      Purity- 93% OR BETTER

      Quality- 22+ CARATS

      Quantity- 50KG Trial Shipment and contract to be sign after.

      PRICE:$36,000.00 PER KILOGRAM FOB and $38,000 CIF

      PAYMENT CIF: 20% AFTER DELIVERY AND SUCCESSFUL INITIAL RANDOM TEST SAMPLE,THEN BALANCE PAYMENT OF 80% AFTER REFINERY SMELTING AND ASSAY REPORT.

      TERMS OF PAYMENT FOB: The payment of the product will be done at the buyer’s destination after refinery. However 10% of the total cost will be paid by buyer to seller to cover Export Expenses and Documentation, and after buyer has been satisfied with the quality of goods and all the procedures, shipment will be effected within 72 hours. The balance of 80% will be paid based on the refinery’s report, 2 to 3 working days after goods has been delivered to buyer’s refinery.

      OTHER TERMS AND CONDITIONS: A contract agreement stipulating terms and conditions of this transaction will be signed between seller and buyer. Buyer must arrive in Ghana to sign all business and legal documents in respect of the transaction and also use the chance to interact with management and physically ascertain the product.

      Seller’s mandate will accompany buyer and the product to his destination upon receipt of the Export and Documentation Expenses.

      PROCEDURE FOR CIF:

      (1) Seller delivers CIF to UK/USA,BELGIUM,MALAYSIA,HOLLAND,UK,MACAU and HONG KONG.

      (2) Buyer meets Seller representative and do random test of Gold Dust.

      (3) On successful random test, Buyer to pay 20% of total value of Products as cost of shipment.

      (4) Seller representative and Buyer take Gold Dust to refinery for smelting and assay.

      (5) Following satisfactory assay report from refinery, Buyer to make balance 80% payment to Seller via bank transfer.

      WE CAN SELL (FOB) THROUGH PMMC AND ASAP VASA.

      Waiting for your email and call if you agree to any of the procedure on my contact details below:

      Phone: 00233267507768

      Email: E-mail:robertwilliams20008@yahoo.co.uk

      Sincerely Yours,

      Mr.Robert Williams.

    • Rudra profile image

      Rudra 6 years ago

      At the moment the price of gold has sky rocketted.

    • profile image

      Clenam Mining Company Limited 6 years ago

      Clenam Mining Company Limited,

      P.O.BOX C247 Cantonments Accra - Ghana.

      Spokes-Person: Mr. John Hagan.

      Tel: +233265723610.

      E-mail: johnhagann (AT) yahoo.com

      Dear Sir/Madam,

      I am the spokes-person of Clenam Mining Co. Ltd. We are small scale local Mainers located in the Western Region of Ghana which was one of the AU Gold producing Area in Ghana. We got your contact information through your business profile, and after going through it, we decided to go into long term business relationship with you and your Company. We need a serious Buyer and have in stock about 282Kg of Ghana AU Gold Dust; Quality is (22+ Karats), and prepared to supply any quantities you may need. it may interest you to know that we represent other unregistered local miners.

      OUR PRODUCT DETAILS AS FOLLOWS:

      PRODUCT------ALLUVIAL GOLD DUST /BARS.

      QUANTITY----------282 KG OF GOLD DUST/BAR.

      QUALITY-----------------22 CARAT 96.5%

      ORIGIN-------------------- GHANA.

      Further, we currently seek outside-based serious investors on a partnership basis in order to increase our production capacity. If you are interested in this proposal, or have any further questions, kindly contact me at the numbers listed above or via e-mail and would be glad to be in strong relationship with you. We are proud to say that, Ghana Au Gold is absolutely the best product in Africa and the world.

      We are expecting your responds as soon as practicable.

      Best Regard,

      Mr. John Hagan.

    • profile image

      john  7 years ago

      am john koffi a ghana base in mumbai india, I work as a representative of community gold miner in ghana am in mumbai india to promot our gold,This community needs forging partner who will come here and help to develop recourses,

      The community also needs a buyer or honest person who can come here and introduce him or her self to the community also sign a contract with the community before the person can take the community gold dust to his or her country with any of the community representative and sale it then bring the money to the community for development of the community

      This is the current quantity and quality also price of the community gold dust

      1. 500Kgs Gold Dust

      2. 22+carat plus

      3. $16.500 USD for one Kg

      call me on 9967428940 john

    • profile image

      KEITA 7 years ago

      Hello !

      Am Mr Keita A native of Bamako the republic of Mali , male I work as a representative of community gold miner here in Mali Bamako,

      This community needs forging partner who will come here and help to develop recourses,

      The community also needs a buyer or honest person who can come here and introduce him or her self to the community also sign a contract with the community before the person can take the community gold dust to his or her country with any of the community representative and sale it then bring the money to the community for development of the community

      This is the current quantity and quality also price of the community gold dust

      1. 500Kgs Gold Dust

      2. 22+carat plus

      3. $16.500 USD for one Kg

      Any interested person should contact this email keita68@hotmail.fr for further information or call +223 777 610 66,

      Regard Mr Keita Glaudy

      Mali Community Gold Dust

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi Eric,

      Thanks for visiting and commenting on this hub. I am not a gold trader. Hence, can not buy the gold dust.

      Jyoti Kothari

    • profile image

      Eric 7 years ago

      we are god dust seller mining company here in Ghana, we have 200kg of gold dust for sale. any interesting buyer should contact us for more details. email ankomah_sons@yahoo.com

      00233247429100

      looking forward to hear from any interesting buyer.

      regard.

      Eric

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi Issa,

      Thanks for visiting, commenting and requesting a deal.

      Jyoti Kothari

    • profile image

      Issa Mohammed 7 years ago

      Dear Sirs,

      First of all let me start by introducing myself ,My name is Mr Issa Mohammed the Head of External and field relations department of Kabala mining company (SL)LTD in Sierra Leone west africa,

      I got your email id in an advanced google search .

      Our Noble company is a new registered company in sierra leone ,Initially we started with consulting services for the local miners later we went into agreement and we bacame there marketing representatives which lasted up to this extent .

      My main purpose of writing you is because we just acquired a land in kabala district of sierra leone that we want to go into mechanised mining so we are looking for investors that will come and boost our project by getting us machines and all required equipments for the mining exercise.

      We have carried out the geological survay on the land and the reports states that there is rough diamonds ,gold dust ,iron ore ,tin and platinum in the land .We will highly appreciate it if you can come to our aid or if you are a consultant that knows some potential investor please consult them for us and your percentage will be discussed on a round table between you ,our company and the investors company.

      We also have available some kilogrammes of au gold dust that we want to sell ,which is 75kg and about 6000carrats of diamonds stones but we will sell it to the investor that will come into partnership with our noble company.

      We will apppreciate it if our request is considered.

      I look forward to hearing from you soon .

      Kindest Regards

      Mr Issa Mohammed

      Mobile:00232-3398-4045

      Tel:00232-7734-8023

      Skype:issa.mohammed2

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi Garima,

      It will be better if India will shift to infrastructure from gold. India has enough gold in her stock and it needs money for building infrastructure.

      However, people are shifting to gold presently because of recession.

      Thanks,

      Jyoti Kothari

    • profile image

      Garima 7 years ago

      Hi,

      INDIA WILL SHIFT TO GOLD FROM INFRASTRUCTURE SOON. NICE HUB. THUMBS UP 1

      GARIMA

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi Readers,

      I have seen some people commenting only with a purpose to sell. These are unsolicited comments. There is no harm in linking your site in the comment section but there should be something related to hub.

      Please do not comment with sole purpose of advertising.

      Thanks,

      Jyoti Kothari

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi,

      It is reported to me and I have verified that this hub is copied in other site. Similarly many other hubs are copied in the same site.

      I request Hubbers to check whether their hubs are copied in another sites and report to Adsense at

      https://www.google.com/adsense/support/bin/request... to fight with copyright infringements.

      Thanks,

      Jyoti Kothari

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 7 years ago from Jaipur

      Hi,

      You are right. Indians are importing and buying gold not since centuries but millenniums. India was called golden bird even few centuries ago.

      Intruders looted Indian wealth for centuries, yet India has tons and tons of gold in its possession.

      Thanks for your comments.

      Jyoti Kothari

    • profile image

      DK 7 years ago

      Possibly India has the most of world's total gold reserve. Federal stock of US Government is pea nut in comparison to Indian house hold stock of gold.

      Excellent article.

    • profile image

      Phillip Kwame 7 years ago

      Dear Sir,

      We came across your contact on a Trade Directory.

      We are mandated to look for serious buyers of Gold dust and Agro-Allied products by small and medium scale miners in Ghana.

      We wish to assure you that as the consultants to small scale mining groups in Ghana, who are in a comfortable position to supply gold dust and Agro products,we have the capacity to meet any large quantities. We are keen to develop our markets through you. To this end, we seek your assistance and cooperation for our mutual benefits.

      We have aggressive rates and can provide proof of product as necessary. For soft quotes, we need buyers LETTER OF INTENT. Once we receive the LOI, we will process with the FULL CORPORATE OFFER within 48 hours.

      The LOI must contain the following information.

      Quantity

      Quality

      Terms of payment

      As at now, we have 250 kgs of alluvial gold concentrate, normally referred to as gold dust, 92.7 per cent purity, 22 karats ready in stock for sale.

      All correspondence regarding this transaction should be addressed directly to us. We hope this information will retain your attention and the subsequent processing of the required documents so that we can work together.

      Call me as soon as you accept this offer on +233541514621.

      EMAIL: adugold2@ymail.com

      Best regard

      Mr.Phillip Kwame

    • profile image

      Richard Gad . 7 years ago

      Ghana Minerals gold dust pls du call .

      My Dear,

      We are large scale miners located at Tarkwa and Prestea in the Western Region of Ghana West Africa. We are incorporated under the Companies Code 1963, Act 179 with RC No: 63, 7787 (Registrar Companies, In Ghana) We are duly registered with the Minerals Commission as well as with the Precious Minerals Marketing Company Limited, known as a Government body (PMMC). We have an export permit issued by the PMMC and a Certificate of Non –Criminal Origin issued by the High Court, of Ghana.

      We sell alluvial gold dust mined from our concessions. We currently seek outside- gold buyers and serious Investors to stand as a partnership basis in order to increase our production capacity.Currently we offer for sale 250 kilogram’s gold dust

      Alluvial Dust Quality: 22.7 Carat (94% Purity) Price: $12,000.00

      1.Proof with confirmed Geological survey Assaying report We are to Draft Contract to guide you on our terms and conditions.

      2.IF the buyer agrees the shipment will be done Through PMMC . the full payment Of the

      gold will be made to the Bank of Ghana through the PMMC account in orders of my shipper company name.

      3.The buyer is required to come and meet the seller’ for a face to face meeting with for the purpose of inspecting and conducting a preliminary assay on the total stock of the gold.

      4. If the transaction is done outside PMMC a good faith down payment of 10% which shall be used for all things including the following: Documentation, Government Taxes, Freight and Handling charges for the shipment of the said gold. We need mining equipment,

      Customer should confirm if they are ready willing and able to supply. If required further clarifications do feel free to contact the

      manager Mr. Richard Gad: Email (engrrichmond@aol.com) Mobile +2330541928202 http://engrrichmond.en.ec21.com

      your sincerly .

      marketing maneger

      Mr. Richard Gad .

    • profile image

      Anjali 8 years ago

      Jyoti,

      I am fond of Gold Jewelry but did not know that much about it. This is very informative hub. How did you collect all this information?

      Should I buy this time gold? Will price rise ? will we invest in stock?

      Anjali

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 8 years ago from Jaipur

      dear,

      This may benefit you in the future. Welcome to India.

    • profile image

      Johnson Blake 8 years ago

      I have visited hub pages first time. This hub is very interesting and motovated me to sell my gold stocks. I will prefer to invest in India.

      Johnson

    • vrajavala profile image

      vrajavala 8 years ago from Port St. Lucie

      India is the 4th largest world economy. However, I believe it was insulated from the recent economic global meltdown. Possibly this is because Indian people were wise to invest in gold rather than speculative stocks, etc.

    • JYOTI KOTHARI profile image
      Author

      Jyoti Kothari 8 years ago from Jaipur

      Yes, gold is a medicine too that's why indians include it in rich food varieties. It is also used in ayurvedic medicines.

    • Tatjana-Mihaela profile image

      Tatjana-Mihaela 8 years ago from Zadar, CROATIA

      Very interesting.

      Gold is necessary for body chemistry: it is found in blood, hair, nails, the most of it around the heart. It is very healthy to wear golden jewelry because body takes from jewelry this very needed element. It is used for healing depression, arthritis, apparently for improving heart conditions, for immunity and fertility (especially for men) etc.

      India looks astonishing with using so many gold in the architecture. If you can include some pics of gold in India architecture,in your hub, I would be very thankful.

      Thank you for this hub, thumbs up.

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