Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

India is working with World Gold Council to create a spot exchange

IMG Auteur
Published : May 16th, 2017
167 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

The World Gold Council is working with the Indian government on plans to create a local physical spot-gold exchange that may start up as soon as next year.

“We are working on a gold exchange for India,” P.R. Somasundaram, managing director for the World Gold Council in India, said in an interview in London today. “The finance ministry has formed a gold committee. And the committee has taken this as one of the things to do.”

The plans still face many hurdles including that the state-level rather than central government has responsibility for gold-related matters in India, he said. Increased infrastructure such as gold vaults and reliable receipts for metal are also needed.

The new exchange would bring more order and structure to the market, "which is what the government would love,” Somasundaram said. “It is not going to be a gold exchange like you see here, with bullion banks backing liquidity. It’s going to be very different." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-...king-with-wo...

Data and Statistics for these countries : Georgia | India | All
Gold and Silver Prices for these countries : Georgia | India | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
WebsiteSubscribe to his services
Comment this article
>Follow all commentairies
You must be logged in to comment an article8000 characters max.
Log in or Sign up
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Do You, Mr. Jones…?
25 MayJake0
Then what? Since Trump was elected as an NFL punt type kick to the balls of the establishment, we Deplorables would kill them, mayhem would r...
Bill Murphy: Silver – The Only Commodity 66 Cheaper Than 37 Years A...
25 MayS W.-1
Gold is not money. Wealth Yes. Silver is a form of money. Its just losing its value with respect to the $USD ( currently) When peop...
The Escape from Collectivism - Jeff Thomas
23 MayFalconflight
Your summation on collectivism cannot be heralded enough.
The Escape from Collectivism - Jeff Thomas
23 MayFalconflight
Oy Vey...
Bill Murphy: Silver – The Only Commodity 66 Cheaper Than 37 Years A...
23 MaySNAFU-2
Right. Gold is money, but, if I understand well, we have no use for it in the world, because of popular TV show and because the idea has ...
The Escape from Collectivism - Jeff Thomas
22 Maysam_site
Globalist investigator Leuren Moret discovered that Fidel Castro, far from a grass roots revolutionary, was a Farnese duke from a prominent Black N...
Bill Murphy: Silver – The Only Commodity 66 Cheaper Than 37 Years A...
22 Mayprljr-2
"depict Armageddon or viruses or zombies never show people trading gold for items." Food ,medicine and Guns and ammo will be traded if it comes...
Gold Bullion +2 for Week vs Falling Dollar as Trump's Troubles Spre...
19 MaySam Maher
"Giant gold-backed ETF the SPDR Gold Trust (NYSEArca:GLD) in fact shrank Thursday as stockholders liquidated shares, reducing the amount of bullion...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS