As we all Know that India's CAD is increasing because of increase in Import of gold due to which our economy is facing lot of problems. Here is an attempt to show you all how we can reduce Our gold import
What is GOLD?
Information on Gold
Uses and demand
Gold in jewelry
Purity/Fineness
CHINA VS. INDIA
WHO IS BUYING GOLD JEWELLRY?
gold as an investment
Gold as Inflation Hedge
GETTING EXPOSED TO GOLD
Rothbard Model of Gold
Risks of Gold Pricing
Gold Fix ?
PROCESS of Price Determination
Gold Imports
FACTORS AFFECTING GOLD PRICE
Why India Has Stopped Importing Gold ?(P. Chidambaram)
This Presentations focuses on Factors affecting the Gold Prices.
It also includes various data charts showing price trends.
It also Explains the expected Trend and Measure to Nullify the Risk.
What is GOLD?
Information on Gold
Uses and demand
Gold in jewelry
Purity/Fineness
CHINA VS. INDIA
WHO IS BUYING GOLD JEWELLRY?
gold as an investment
Gold as Inflation Hedge
GETTING EXPOSED TO GOLD
Rothbard Model of Gold
Risks of Gold Pricing
Gold Fix ?
PROCESS of Price Determination
Gold Imports
FACTORS AFFECTING GOLD PRICE
Why India Has Stopped Importing Gold ?(P. Chidambaram)
This Presentations focuses on Factors affecting the Gold Prices.
It also includes various data charts showing price trends.
It also Explains the expected Trend and Measure to Nullify the Risk.
The Case for Gold: Overview on Gold as an InvestmentAurAriA
Overview on how to view Gold as a tangible asset and investment. This presentation reviews the effective ROI on Gold versus other instruments in the last several years. Presentation delivered by CEO , Laurent Mathiot.
Why Invest In Gold? Gold and Paper Money “ Gold is money because people make it money . Paper money is money because governments make it money. But what happens if people lose their faith in governments, and the U.S. government in particular?” Source: Peter Schiff Blog, 24 Sep 2010 Peter Schiff is the President of Euro Pacific Capital Inc and the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse . Why Gold: Peter Schiff
Why Invest In Gold? Gold and Paper Money Given the state of the US and global economy, I believe it is more important than ever for investors to own gold and silver as a portion of their portfolios. Inflation, depression, and sovereign default are all possible scenarios I see on the horizon. I believe that precious metals will perform better the darker the economic storm-clouds become. Why Gold: HwangDBS Source: Peter Schiff Blog, 24 Sep 2010 Peter Schiff is the President of Euro Pacific Capital Inc and the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse .
Why Invest In Gold? Gold investing is deemed the safest and most reliable bet. David Ng, Chief Investment Officer of HwangDBS Investment Management Bhd Source: Personal Money, April, 2009 issue
Why Invest In Gold? Demand for gold will always be there as it’s tradable, portable and convertible. Choong Wai Hong, Head of Wealth Management, Standard Chartered Bank Malaysia Bhd. Source: Personal Money, April, 2009 issue
Why Invest In Gold? Investors can’t go bankrupt with physical gold. David Crichton-Watt, Managing Director of The Phoenix Gold Fund, AIMS Asset Management Sdn Bhd Source: Personal Money, April, 2009 issue GoldSilverDvd.com
6 Ways To Invest Gold
Gold Bullion and Coins
Gold-Mining Companies
Gold and Gold–Related Funds
Gold Passbook Accounts
Gold ETFs (Exchange Trade Fund)
Structured Products
Source: Personal Money, April, 2009 issue Experts: Jim Rogers
Uses of Gold Above Ground Gold Production
National Reserves
Governments hold Gold reserves as a backing to their currency’s value.
In 2010, Russia’s central bank bought up an astounding 2/3 of the country’s entire national production.
India purchased closed to 750 tons, breaking the record of the previous year by almost 40%.
China – the biggest gold market of them all – has stated an intention to raise their national reserves by 849%, or 10,000 tons, worth half a trillion US$ by the end of the decade.
Currently the US occupies the No. 1 spot with 8,133 tons of gold.
Uses Of Gold
Only 50-80 grams of gold
is found in 1 tonne (1 million
grams) of mined ore.
Facts About Gold Fact 1 Finding and mining gold is extremely difficult, complex and expensive.
Miners cannot increase supply even when prices are high.
Facts About Gold Fact 2 New mines often take 10 years and billions of dollars of infrastructure to begin contributing to supply.
Annual gold production
has not increased over
the last 10 years & actually
decline 8 out of 10 years
(A
Why gold should be considered in an efficient portfolio to maximize the returns and minimize the risk? This ppt is able to answer this question to a great extent.
The government on Wednesday announced the launch of sovereign gold bonds and a separate gold monetization scheme in a bid to lure away Indians from buying physical gold. Both the gold schemes announced today were part of the annual Budget proposal.
The Case for Gold: Overview on Gold as an InvestmentAurAriA
Overview on how to view Gold as a tangible asset and investment. This presentation reviews the effective ROI on Gold versus other instruments in the last several years. Presentation delivered by CEO , Laurent Mathiot.
Why Invest In Gold? Gold and Paper Money “ Gold is money because people make it money . Paper money is money because governments make it money. But what happens if people lose their faith in governments, and the U.S. government in particular?” Source: Peter Schiff Blog, 24 Sep 2010 Peter Schiff is the President of Euro Pacific Capital Inc and the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse . Why Gold: Peter Schiff
Why Invest In Gold? Gold and Paper Money Given the state of the US and global economy, I believe it is more important than ever for investors to own gold and silver as a portion of their portfolios. Inflation, depression, and sovereign default are all possible scenarios I see on the horizon. I believe that precious metals will perform better the darker the economic storm-clouds become. Why Gold: HwangDBS Source: Peter Schiff Blog, 24 Sep 2010 Peter Schiff is the President of Euro Pacific Capital Inc and the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse .
Why Invest In Gold? Gold investing is deemed the safest and most reliable bet. David Ng, Chief Investment Officer of HwangDBS Investment Management Bhd Source: Personal Money, April, 2009 issue
Why Invest In Gold? Demand for gold will always be there as it’s tradable, portable and convertible. Choong Wai Hong, Head of Wealth Management, Standard Chartered Bank Malaysia Bhd. Source: Personal Money, April, 2009 issue
Why Invest In Gold? Investors can’t go bankrupt with physical gold. David Crichton-Watt, Managing Director of The Phoenix Gold Fund, AIMS Asset Management Sdn Bhd Source: Personal Money, April, 2009 issue GoldSilverDvd.com
6 Ways To Invest Gold
Gold Bullion and Coins
Gold-Mining Companies
Gold and Gold–Related Funds
Gold Passbook Accounts
Gold ETFs (Exchange Trade Fund)
Structured Products
Source: Personal Money, April, 2009 issue Experts: Jim Rogers
Uses of Gold Above Ground Gold Production
National Reserves
Governments hold Gold reserves as a backing to their currency’s value.
In 2010, Russia’s central bank bought up an astounding 2/3 of the country’s entire national production.
India purchased closed to 750 tons, breaking the record of the previous year by almost 40%.
China – the biggest gold market of them all – has stated an intention to raise their national reserves by 849%, or 10,000 tons, worth half a trillion US$ by the end of the decade.
Currently the US occupies the No. 1 spot with 8,133 tons of gold.
Uses Of Gold
Only 50-80 grams of gold
is found in 1 tonne (1 million
grams) of mined ore.
Facts About Gold Fact 1 Finding and mining gold is extremely difficult, complex and expensive.
Miners cannot increase supply even when prices are high.
Facts About Gold Fact 2 New mines often take 10 years and billions of dollars of infrastructure to begin contributing to supply.
Annual gold production
has not increased over
the last 10 years & actually
decline 8 out of 10 years
(A
Why gold should be considered in an efficient portfolio to maximize the returns and minimize the risk? This ppt is able to answer this question to a great extent.
The government on Wednesday announced the launch of sovereign gold bonds and a separate gold monetization scheme in a bid to lure away Indians from buying physical gold. Both the gold schemes announced today were part of the annual Budget proposal.
To add on, Logistics Support Services is indestructible and this will permit over the ground stock for gold to rise except if gold mining action backs off.
IMPACT OF INDIA'S GOLD RUSH BY ROHITH BHANDARYRohith Bhandary
India is known to be among the largest importer of gold in the world. The imports of gold by India have been raising unbeaten in recent years notwithstanding the sustained increase in gold prices. It is well known that demand for gold in India is influenced by many social, economic, and cultural factors. The price of gold, rural income distribution, quantum of black money, rate of return on alternative financial assets and general price level are factor for gold demand in India.
Gold prices are among the most dynamic commodity rates in the world. Gold prices in India are a result of multitude of factors at play. Please go through the slide to know more.
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This will be used as part of your Personal Professional Portfolio once graded.
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
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Gold
1. WAYS TO REDUCE GOLD
IMPORT
Ruchi Gupta
gupta.ruchi93@gmail.com
2. CONTENT:-
What is gold?
Various uses of gold
Relation between price of gold and other economic factors
Importance of gold in India
Why increase in demand of gold in India.
Import of gold in India.
Negative effect of gold import on Indian economy.
Steps taken by government for reducing import.
Steps that should be taken by government to reduce import.
3. WHAT IS GOLD?
Gold is an element and a mineral. It is highly prized by
people because of its attractive color, resistance to
tarnish and its many special properties - some of which
are unique to gold. Its rarity, usefulness and desirability
make it command a high price.
Trace amounts of gold are found almost everywhere but
large deposits are found in only a few locations. Although
there are about twenty different gold minerals all of them
are quite rare.
4. VARIOUS USES OF GOLD:-
Jewelry:- Gold has been used to make ornamental objects and
jewelry for thousands of years. About 78% of the gold consumed
each year is used in the manufacture of jewelry.
Financial Gold: Coinage, Bullion, Backing :-The gold used as a
financial backing for currency was most often held in the form of
gold bars, also known as "gold bullion". The use of gold bars allowed
convenient handling and storage.
Industrial use:- The most important industrial use of gold is in the
manufacture of electronics.
This includes: cell phones, calculators, personal digital assistants,
global positioning system units and other small electronic devices.
Gold is known to have been used in dentistry.
Gold is used as a drug to treat a small number of medical conditions
Gold is also used as a lubricant between mechanical parts.
it is the metal associated with highest esteem and status.
5. RELATION BETWEEN PRICE OF GOLD AND
OTHER ECONOMIC FACTORS:-
Gold is a leading economic indicator. The relationship between the price
of gold and important economic factors are:-
The Dollar:- The US Dollar has an inverse relationship exists
between gold and the dollar. As the dollar weakens, the price of gold
increases. In contrast, the price of gold decreases as the dollar
strengthens. As the dollar continues to weaken against foreign
currencies, investors lose confidence in the dollar and invest more
money in gold.
Inflation:-Inflation involves the loss of purchasing power. When an
economy is experiencing inflation, it takes more dollars to buy a
product or service than it cost in the past. Investors tend to shift their
money to gold when they believe inflation is on the horizon. A greater
demand for gold causes the price of gold to increase. Many investors
use gold as a hedge against inflation. Fear that the dollar will lose its
value causes individuals to invest in a tangible asset that holds value.
6. Interest Rates:-When the economy is performing well and market
interest rates are high, treasury notes, money market accounts and
certificates of deposit offer investors attractive interest rates that are
greater than the inflation rate. When market interest rates are low,
these investments offer low interest rates that are usually lower than
the inflation rate. An investment with a rate of return lower than the
inflation rate results in a negative return. The low interest rates and
negative returns make investing in gold an attractive option for many
investors.
The price of gold affects countries that import and export it:-
The value of a nation's currency is strongly tied to the value of its
imports and exports. When a country imports more than it exports, the
value of its currency will decline. On the other hand, the value of its
currency will increase when a country is a net exporter. Thus, a country
that exports gold or has access to gold reserves will see an increase in
the strength of its currency when gold prices increase, since this
increases the value of the country's total exports.
7. IMPORTANCE OF GOLD IN INDIA
In India, besides the economic and strong social consideration,
individuals are highly sentimental about the gold jewellery in their
possession, as the gold ornaments are passed on from one
generation to another. Acquisition of gold is considered
auspicious. On the global front, India is the largest consumer of
gold. India accounts for more than 30 per cent of the global
gold market. However, the domestic production of gold in India
is minimal. India meets the high demand of gold from its
domestic consumers by importing it..
8. WHY INCREASE IN DEMAND OF GOLD
IN INDIA?
The lack of alternative investments is one of the reasons attributed for
Indian investors favoring gold over domestic capital markets.
Gold as an asset class plays a very important role in an investor's
portfolio as it not only provides stability to returns but also gives an
opportunity to maximize wealth over a longer time frame.
Gold has proven to be a safe-haven investment option because of it
being a hedge against inflation.
Gold is also considered as a medium that can be pledged easily during
difficult times for securing financial accommodation.
Demand for gold is also increasing because gold transactions are
mainly held on cash basis and people can easily convert their black
money into white and can also prevent tax payment as cash received
by seller remains undisclosed.
9. In India people buy gold during special occasions like weddings, festivals
or special events.
high inflation and slow GDP growth have made alternative assets like
equity and debt unattractive. At the same time, gold has gained against
hard currencies.
In rural areas people have to compulsory keep their money invested in
gold by purchasing gold jewellery due to lack of banks and people do not
have knowledge of various other kinds of instruments that are available
in market.
Gold is easier to keep and requires less attention as hard currency is
very prone to damage and deterioration.
So we can say that Investment in gold is becoming price
inelastic and income elastic.
10. IMPORT OF GOLD IN INDIA
India imported around 162 tons of gold in May 2013, up from
142.5 tons in April 2013, recording a 138 percent increase in
imports made a year earlier.
11. NEGATIVE EFFECT OF GOLD IMPORT ON
INDIAN ECONOMY
The first major problem the Indian economy faces with this high gold
consumption rates is the increasing current account deficit
(CAD). India's current account deficit hit a record high of 6.7% of its
gross domestic product (GDP) in the October to December 2012
quarter.
When a country runs a trade deficit it doesn’t earn enough dollars to pay
for its imports through exports. What happens in this situation is that
dollars coming in through other sources like foreign direct investment,
foreign institutional investment and citizens living abroad, are used to
finance imports.
12. Most of the gold bought by us Indians is used for consumption purpose in the form of
jewellary. Even from the investment perspective, majority of the Indians still prefer the
traditional way of holding it in the physical form. However, it is an investment
that does not add much value to the productive capacity of the economy.
Investments in the physical form of gold are either stored in bank lockers or get
exchanged for making jewellery.
The level of black money circulation is increasing in the economy due to
consumption of gold. This is happening because the purchase and sale of
gold is being done in cash thereby hurting the government on two fronts.
Firstly, the purchasing gold against cash gives an individual an
opportunity to convert his black money into white. Secondly, the cash
received by the seller also remains undeclared and thereby no tax will be
paid.
On top of this the gold imports are being financed by the hard earned
foreign exchange. So import of gold is decreasing the level of foreign
exchange reserve in India.
13.
14. STEPS TAKEN BY GOVERNMENT FOR
REDUCING IMPORT:-
The government has raised the import duty on gold to 10% from 8% on
August 2013. It has been seen in the past that a hike in import duty is a
short-term solution. In the medium to long-term consumers come back
to the market.
Banks have been instructed to stop lending against gold and also against
offering loans to buy gold.
the central bank said imports of gold against both suppliers' credit and
buyers' credit would now have to toe the line of 100 percent cash
margins.
It also said imports of gold on an unfixed price basis also had to be on a
100 percent cash margin basis. Gold imports are usually either based on
an agreed, or fixed, price or priced at time of delivery, which is termed
"unfixed".
15. Introduction of Gold ETFs to reduce the physical demand of gold. But
this has not reduce the demand of gold.
Accordingly, any import of gold on consignment basis by both
nominated agencies and banks shall now be permissible only to meet the
needs of exporters of gold jewellary.
But these changes has not effect the market much and The flip side of
restrictions will be increased gold smuggling and increased grey market
activity.
16. STEPS THAT SHOULD BE TAKEN BY
GOVERNMENT TO REDUCE IMPORT :-
By increasing various taxes on import and purchase of gold but that
may lead to more gold smuggling.
By offering inflation-protected bonds to damp demand for gold and
offer a hedge against inflation.
India can cut imports by offering investment plans that offer
returns equivalent to gold, through tie-ups with banks and jewelers.
The government could open deposits of gold at banks by customers.
That is, customers could be allowed to deposit gold instead of cash
at banks and earn an interest on the gold for a specified time period.
17. Better documentation of gold sale and purchase so that government can
know how much amount of gold is actually purchased by people.
It should be made mandatory by RBI to make payment through cheque for
large gold transactions. But because of this buyers may take recourse to
unauthorized channels to buy gold.
RBI should introduce various new gold-backed financial products to
reduce the demand of physical gold. With the help of this demand from
urban consumers can be diverted towards dematerialized gold investment.
Introduction of tax incentive on gold-backed financial products. So that
these gold backed financial products can attract people.
educating people regarding existing gold ETFs (ETFs provides investors
with a relatively cost-efficient and secure way to participate in the gold
bullion market without the necessity of taking physical delivery of gold.)
18. Increase the reach of Banks:- As per a World Gold Council India has
one of the highest saving rates in the world; estimated at around 30
percent of total income, of which 10 percent is invested in gold. only 21
percent of rural India had access to formal financial sources. Therefore
lack of availability of alternate avenues of investment that might be
resulting in heavy gold purchases.
Liquidity quotient of alternate investment instruments:- a prime
reason behind increased gold purchase is its liquidity aspect. The
government can also consider introducing highly liquid across the
counter instruments with the government guaranting buybacks.
Massive education campaign must be launched- to create awareness
amongst the public as to how unnecessary piling of gold stocks with
households is not only adversely impacting the current account
position of the economy but also what it is doing is increasing the level
of black money circulation in the economy. On top of this the gold
imports are being financed by the hard earned foreign exchange.
Therefore it is imperative for the government to educate the citizens of
the country about the adverse impact of rising gold imports.