Page 37 - Bullion World Issue 11 March 2022_Neat

Bullion World | Issue 11 | March 2022

IIBX office opened,

operations to begin by
end of month

The office of International Indian Bullion Exchange
(IIBX) was inaugurated fat Brigade Tower in GIFT
City. The new office was inaugurated in the presence
of IIBX CEO Ashok Gautam. Sources privy to the
development said India’s first bullion exchange is set to
begin trading operations at the International Financial
Services Centre (IFSC) at GIFT City in Gandhinagar by
the end of this month.
Source: https://timesofindia.indiatimes.com

Quarterly platinum sales

cross pre-pandemic levels

Platinum jewellery sales in the third quarter of the current
fiscal year have surpassed pre-pandemic levels, according to
Platinum Guild International’s Indian arm.

Gold Jewellery
Source: https://www.deccanherald.com
Demand Nearly

Doubled in

India

Reserve Bank The Indian gold jewellery demand almost doubled
of India to during the previous year, says the Gold Demand
prematurely Trends Report 2021 published by the World
Gold Council (WGC). The demand totalled 611t,
redeem sovereign hitting the highest level in six years. The easing
gold bonds of lockdown restrictions from mid-2021 and
continued successful rollout of the vaccination
program led to notable economic recovery during
The Reserve Bank of India (RBI) has decided to prematurely redeem the second half of the previous year. This boosted
sovereign gold bonds (SGBs), which were issued in 2016 at a price consumer sentiment, especially in urban areas.
of Rs 4,813 per unit of SGB. Under central government rules, the Meantime, rural demand was supported by normal
premature redemption is permitted after the fifth year from the date of monsoon rainfall in most parts of the country,
issue of such gold bonds on the date on which interest is payable, the although crop loss due to floods affected demand
RBI said in a statement. in key South Indian states of Tamil Nadu and
Kerala, WGC noted.
Source: https://www.business-standard.com

Source: https://www.scrapmonster.com

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