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Government Launches Three Gold Schemes; India Surpasses China as the World s Largest Gold Consumer

Dated:- 5-12-2015 - As per the (Gold Fields Minerals Survey) GFMS Gold Survey in the third quarter of 2015 Review and Outlook Report, published by Thompson Reuters, India has surpassed China as the world s largest gold consumer. According to the report, the consumption of gold in the first nine months of the year 2015 in India has been 642 tonnes whereas that in China has been 579 tonnes. A fall in the prices of gold in the recent months has been one of the reasons for the increased demand for g .....

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003/2015-16 dated October 22, 2015 which is available on RBI s website. The detailed guidelines of the Sovereign Gold Bond Scheme is available vide Government of India s Gazette Notification F.No. 4(19)-W&M/2014 dated October 30, 2015. The Indian Gold Coin is the country s first national gold coin of 24 karat purity with 999 fineness which is minted indigenously. It has the Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other. The Government receives representations .....

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