Is the glittering economy at a standstill: An analysis of the current gold market in India

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Emmanuel, N. E. (2014). Is the glittering economy at a standstill: An analysis of the current gold market in India. Innovative Journal of Business and Management, 3(04), 73–78. https://doi.org/10.15520/ijbm.vol3.iss4.9.pp73-78
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Abstract

Gold has been a valuable asset since ancient times in all cultures and across all periods of history. The main reasons for this is that it is universally acceptable as a store of value; it is a way of transferring inter-generational wealth; it serves as a hedge against political and economic certainty, including inflation, and it provides liquidity in times of need. This paper attempts to study the present condition of gold market. Undeterred by gold’s time-honored cultural role, the Indian government has attempted in this era to move away from such guileless hoarding. Despite everything the national yen of gold continues endlessly, seriously putting the economy in danger. To study the recent gold market the gold prices, demand for gold and import situation of gold is analyzed. It is concluded that even though the rising prices of gold and demand for gold lead to a new investment market in the economy. It also widened those trade gaps which lead to the smugglers market in the economy, since the international price level is much less than the domestic price level. Hence it is the responsibility of the government to make measure to provide a healthy consumption of the gold commodity keeping in view that the demand for the yellow metal cannot be reduced because of its traditional and cultural connections.

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