Page 18 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

Excerpts of Presentation made by

Shri V S Sundaresan, Executive Director,

Securities & Exchange Board of India

(SEBI)

Shri V S Sundaresan
Executive Director, Securities & Exchange Board of India (SEBI)

Recent Developments in gold (against 5% in
• The 3 largest NBFC offering gold financial assets)
loans saw their assets jump by
32%, 25% and 61% year on • Gold demand increased by 43%
year, respectively, in 2020 to 171 tonnes in April – June
2022, compared to 120 tonnes
• Gold’s appeal as a safe haven is in previous year
only rising:
• as tensions escalated
in Ukraine, its price
approached records
• savings stashed away,
as idle gold could be put
to more productive use
elsewhere
• Indian households hold
22,500 tonnes of the • Revamped Gold monetization scheme
physical metal – five times
• W.e.f 1st July, 2022, India’s gold import duty increased by 4.25%, with
the stock in American’s
consumers now paying 18.45% tax for refined gold compared to 14.07%
bullion depository at Fort previously.
Knox and worth $1.4trn at
current prices. The average
family has 11% of its wealth

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