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How to strike gold: You may soon buy, sell, collaterise yellow metal

The government proposes to treat gold as a financial asset on par with equities.

Topics
Gold Trade  |  Commodities  |  Gold

Rajesh Bhayani  |  Mumbai 

A group of union ministers is expected to meet in the next few days to consider a comprehensive policy aimed at making gold an asset class. In November 2015, the government announced the gold monetisation scheme to indicate its intention of bringing idle gold into the system around 25,000 tonnes, which in value is about 45 per cent of India’s GDP.

By bringing gold for productive use, the government accorded it the status of an economic asset. However, it simultaneously announced the interest-bearing sovereign gold bond scheme, making the metal a financial asset as ...

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First Published: Mon, April 08 2019. 18:05 IST
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