Page 7 - Bullion World Volume 5 Issue 03 March 2025_Neat

Bullion World | Volume 5 | Issue 03 | March 2025

EDITORIAL UAE and other markets for gold bullion and coins,
etc. Besides the discussions, there were several
interesting presentation, starting with keynote from
the Chief Economic Advisor to Government of India
Dear Readers, Mr. V Anantha Nageswaran, Shri K Rajaraman, IAS,
Chairperson, IFSCA, Prof. Bharat Bhaskar, Director,
I had the privilege of attending the IIMA-IGPC IIMA, Mr. Mike Oswin, Head of Market Strategy,
Conference on Gold & Gold Markets during 3 and World Gold Council, Mr. Sachin Jain, Regional CEO,
4 March, 2025. The conference is a confluence World Gold Council India, Mr. S C Dass, Head of
of regulators, market participants as well as Hallmarking, BIS, and Mr. Pradeep Ramakrishnan,
academicians. So, there was depth, diversity and Executive Director, IFSCA. The conference provided
richness in perspective. The first discussion focussed a lot of space for academic researcher to present
on supply of gold, efficiency of each channel of their papers. The industry needs to engage more
supply, OTC (read as consignment model) vs. with the academician in both identifying areas of
exchange traded, export opportunities for gold research and also in sharing data, information and
bullion and jewellery, CEPA impact on exports other resources where possible. I thank IIMA for an
of jewellery from India to UAE and adding value. excellent conference.
The second discussion explored the possibilities
of routing gold dore through the IIBX exchange Gold prices in the two major consuming markets
ecosystem. Current regulation on import of gold of China and India have been trading at a discount,
dore, operational practises pertaining to sourcing reflecting subdued demand in the world's two
dore from artisanal sources, and modalities involved largest gold-consuming nations. In China, gold has
in sourcing from large mines were taken into account remained at a discount for the past two weeks, while
to propose several possible solutions including best in India, the trend has persisted since early January.
practises from base metals as a part of solution
spectrum. Harnessing the potential of gold jewellery It is heartening to note that the government has
sector was the third discussion. The discussion addressed the concerns of the industry and has
meandered around engaging with Gen Z and Gen placed all forms of platinum except 99% and above
Alpha, role of technology, product innovation and purity under restricted category by creating three
communication. The session on gold financial new HS codes for platinum with 99% or more by
products discussed the opportunity space, building weight effective from May 1, 2025. Hope this helps
end-use value preposition and scope for engaging the market.
with millennials. The final discussion explored export
of gold bullion. It started off with changes required Best wishes,
in current regulations, role of IIBX, potential of a pass G Srivatsava
book system for deemed exports, opportunities in Editor

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please write to editor@bullionworld.in

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