Now, India’s very own gold coins; Gold management needs a makeover!
Now, India’s very own gold coins: Investors of physical gold can now use this reliable route to buy the yellow metal...
GOLD MANAGEMENT NEEDS A MAKEOVER*
Great. Now, let us hope, other coins also will be minted in India. This is another welcome step in gold management. Beyond meeting the appetite for accumulating gold and gold-related financial instruments, country must now map the domestic surface gold stock and gradually plan its productive deployment. The recent initiatives like the three gold schemes, now under implementation (Sovereign Gold Bonds, Gold deposits Scheme and Gold coins) are welcome moves. But, unless we are able to redeploy at least a part of the accumulated domestic gold stock of over 20,000 tonnes, the objective of reducing import of gold will remain a dream.
M G Warrier
*Article by M G Warrier, published in The Hindu Business Line, April 12, 2012