Page 37 - Bullion World Issue 10 February 2022_Neat

INDIA news Bullion World | Issue 10 | February 2022

Sebi notifies vault
managers rules;
allows bourses

to set up gold

exchange in India

Markets regulator Sebi has notified
rules for vault managers that allow
bourses to set up a gold exchange
BSE delivers gold under India in the country. This comes after the
board of Sebi cleared a proposal
Good Delivery Standards in September for setting up a gold

exchange, wherein the yellow metal
will be traded in the form of electronic
It marks the 14th month where deliveries have taken place since the gold receipts and the bourse will help in
contract was launched in June 2020. BSE has made delivery of physical having a transparent domestic spot price
gold on maturity of December Gold mini contracts on the ‘Options in Goods’ discovery mechanism.The instruments
framework. It marks the 14th month where deliveries have taken place since representing gold will be called
the contract was launched in June 2020. electronic gold receipts (EGRs) and will
be notified as securities.
A large quantum of gold was delivered at the exchange-designated vault in
Ahmedabad, Gujarat, with participation from multiple members. The Gold mini Source: https://www.moneycontrol.
‘options in goods’ contracts delivered were based on BSE - BIS India Good com
Delivery Standards.
Source: https://www.thehindubusinessline.com

India's spends record $55.7

billion on gold imports in

2021 - govt source

India splurged a record $55.7 billion on gold imports in 2021, buying
more than double the previous year's tonnage as a price drop favoured
retail buyers and pent up demand emerged for weddings that were
delayed when the pandemic first hit. The 2021 gold import bill easily
doubled the $22 billion spent in 2020, and surpassed the previous
high, set in 2011, of $53.9 billion, according to the official, who tracks
broad import trends.
Source: https://www.marketscreener.com
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