Page 19 - Bullion World Volume 02 Issue 01 May 2022
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Bullion World | Volume 2 | Issue 01 | May 2022
like bank FDs, PPF, LIC, post office
savings, etc., with minimal risk.
For income class with an annual
income above 10 lakhs, upper-
middle and rich, savings are
gains over their extra earnings,
additional idle money & capital
gain. Hence, they prefer investment
in stock/shares, derivatives and
real estate. The risk is high, but
returns are high. Thus, it can be
said that the higher the income, related purchases evidently are The Domestic and International
the more the risk-taking capacity; more in the festive season; one Bullion Exchange workshop
(c) Another vital observation was could relate to Akshaya Tritya and addressed all the significant queries
Gold consumption wasn’t affected Dhanteras. About 30 to 35% is raised during the exchange setup.
by demonetisation or GST. In the discretionary spending confirmed For International Exchange, the
last five years, at least 74% of the by buying gold; (f) In the Gold discussion revolved around the
Households confirmed buying Gold sale behaviour; the study showed standard operating procedure and
and cash is the most preferred that meeting financial needs, remittance of US dollars that had
way to transact; (d) Irrespective medical emergencies and lifting to be given to the IFSC for Gold
of the income class, there is a social status are the top reasons Import. The RBI would probably
visible differentiation created for a to sell gold and jewellery stores come up with the SOP of dollar flow
reason for owning gold is the same. are the default destination to sell through the IFSC area, after which
Although marginal, the intrinsic Gold. So, one very suggestion the main concern will be about
value is seen as more important that was added to this survey was how the import will take place. A
than the possessional value; (e) jewellery stores could become the couple of other questions asked at
Based on the consumption pattern, central point for Gold Monetisation the workshop were: What value can
weddings and festivals contribute Scheme. the exchange give to the qualified
to 65 to 70 % of the reasons for
jewellery purchase. Investment-
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