Monday, May 28, 2012

What you may not know about GOLD

Everyone knows about gold and many have at-least a small quantity of it.

Governments hold a portion of their reserves in Gold and top ten nations according to the
quantity of gold that they have in their possession:
USA (8,133 tons), Germany, Italy, France, CHINA(1,054 tons), Switzerland,
Russia, Japan, Netherlands and INDIA(558 tons).

Now let us see the top ten Gold producing nations:
CHINA(355 tons), Australia, USA(237 tons), Russia, South Africa,
Peru, Canada, Ghana, Indonesia and Uzbekistan.

India till recently was the largest importer of gold. But during the course of this year (2012) China
is going to surpass India in this aspect.

China produces the maximum amount of Gold per year. It is going to become the largest importer
of Gold per year. And it has 1,054 tons of Gold as reserves which represents only 1.6% of its
total reserves. It also has 3 trillion dollars as reserves.

India has begun purchasing oil from Iran by effecting payments in Gold.
Because of the rising price of Gold the off-take is dampening.

Investors in India will be better of by investing in silver bullion.

Comments are welcome.

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