Page 37 - Bullion World issue 2
P. 37
Bullion World | Issue 02 | June 2021
INDIA news
BSE executes RBI buying
physical gold in a
delivery of Gold big way to
mini in 'Options diversify forex assets
in Goods'
contract The central bank ended FY21 with a valuation loss of its foreign exchange
reserves as US treasury yields, where the bulk of the reserves are parked,
have hardened in recent times. The Reserve Bank of India bought 42 tonnes
(1.36 million troy ounces) of gold in the last fiscal year amid uncertainty on
US treasury yields. The central bank ended FY21 with a valuation loss of
its foreign exchange reserves as US treasury yields, where the bulk of the
reserves are parked, have hardened in recent times. But RBI’s gold reserves
of 22.35 million troy ounces (around 695 tonnes) is valued at $33.8 billion as
of end-March,
Source: https://economictimes.indiatimes.com
BSE, Asia's leading sti exchange and Why silver India added 42.3
the world's fastest exchange with the
speed of six microseconds executed outshines tonnes gold to its
delivery of Gold mini in the 'Options
in Goods' framework. The physical gold in 2021? reserves in FY21
delivery was successfully completed
at the exchange designated vault in Experts list out Gold’s share in the total Fx reserves
Ahmedabad and Gujarat marking the decreased from about 6.69% as at
ninth consecutive month of deliveries. reasons end-September to about 5.87% as at
So far, the exchange has clocked the end-March 2021
highest turnover of INR 5010 crores in Both gold and silver prices
'Options in Goods' contracts. have been showcasing upside India’s gold reserves went up by
movement for the last one week 42.3 tonnes in the one-year period
BSE was the first exchange to launch but if we look at the performance of ended March 31, 2021, against
'Options in Goods' contracts in Gold both the precious metals in 2021, 40.45 tonnes in the year-ago period.
mini and Silver kilogram based on silver has outshined gold price. As at end-March 2021, the Reserve
spot prices from June 1, 2020. These Gold price today is down by near Bank held 695.31 tonnes of gold as
contracts are converted into physical 4.39 per cent from its opening part of its foreign exchange reserves
delivery on expiry. The gold mini price of ₹50,180 in 2021 while management against 653.01 tonnes
options trading unit on BSE is 100 silver price today is near 5 per cent as at March-end 2020, as per the
gram and the base value is Rs. per 10 higher from its opening price of central bank’s “Half Yearly Report on
gram. The maximum order size is 10 ₹68,254 per kg in 2021. According Management of Foreign Exchange
kilogram and delivery units are 100 to commodity experts, silver (Fx) Reserves.” During the half year
grams. price has outshined gold price period (October 2020 - March 2021)
because silver has dual nature. under review, India’s Fx reserves
Source: https://www.aninews.in It is both precious metal and an increased from $544.69 billion as
industrial metal. Apart from this, at end-September 2020 to $576.98
shrinking mines supply has also billion as at end-March 2021.
created demand-supply constraint
for the silver metal. Speaking on Source: https://www.
the reasons for silver outshining thehindubusinessline.com
gold price in 2021 Sugandha
Sachdeva, Vice President at
Religare Commodities Limited said,
"Silver has a dual nature. It is both
a precious metal and an industrial
metal.
Source: https://www.livemint.com
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