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Gold and Silver in India: A PowerPoint overview
Summary:Gold and Silver in India: A PowerPoint overviewGold in IndiaAs per data from the World Gold Council, the consumption of gold in India has doubled over the past two decades - going up from 400 tons in 1987 to 800 tons in 2007. Estimated Indian gold reserves at 25,000-30,000 are twice as much of the next largest country - the USA with 14000 tons. India has 20% of the world population and also 20% of the world’s above-the-ground gold. But in reality, India has one of the lowest fiscal reserves of gold in the world. Against a global average of 10.5% RBI holds only 3.4% of its reserves as gold. The EU holds 40% of its reserves in gold and USA - 70%. While India rallies to build up Gold reserves, China has become the world’s 3rd largest consumer of gold - up from 100 tons to 350 tons. Shanghai Gold Exchange has made it easier to invest in gold by reducing the transaction size from 1 kg to 100 gm. Silver in IndiaIn 2002, India was estimated to have more silver bullion in its reserves than any other country who reports this statistic. The number was reported at 87 million ounces of silver. At the beginning of 2005, these reserves had already been exhausted to 67.5 million ounces. In 2005 the country sold another 39 million ounces, putting the nations last recorded silver reserves at 28.5 million ounces. The ‘Gold and Silver in India’ PowerPoint presentation concisely presents the following information:
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