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What is Gold Exchange ?
The way you do stock market trading, there will be a gold exchange in some way. You buy and sell shares, that is, when you trade in the stock market, there will be a gold exchange in the same way that you buy gold through the gold exchange and can sell.
How much gold is there in India?
In our country, about 25000 tonnes of gold is with the people and out of which 10 to 15000 tonnes of gold is with the rich people, but this gold is safe in your home chest, safe, locker and bank lockers and its price is also increasing. Is
And this is your great investment, it also gives you this confidence and you are confident that if the gold that is kept with us is needed, then by selling which gold we can use the money.
But at the moment, the same gold is coming to you and neither the country, that is, 25000 tons of gold has no contribution in the country’s economy.
Now the government wants this gold to come out and contribute to the economy of the country and increase the economy. Due to Corona, the economy of our country has suffered a huge setback, for this, the government has decided to create a Gold Exchange – Gold Exchange and its Finance Minister Nirmala Sitharaman has done the announcement in the budget session.
Now, if you buy gold from a jewelery shop or you buy it from somewhere else, it will be safer than this, besides it has many more benefits when you buy gold.
How is the price of gold decided?
- Members of the bullion association of most cities decide the price at the time of opening of the market.
- Prices are declared in MCX futures market by adding VAT, levy and cost.
- Prices go there all day. This is the reason why the prices of gold in different cities are different. Apart from this, the price of gold in the spot market is decided on the basis of purity.
- The price of 22 carat and 24 carat gold varies.
How are the prices fixed on MCX?
- The Multi Commodity Exchange (MCX) determines the prices of gold by collecting the demand-supply data for gold in the Indian market and keeping in mind the inflation situation in the global market.
- Also, this organization coordinates with the London Bullion Market Association based in London and also fixes the price of gold. Futures market prices remain the same across the country
But this will not happen at all, now the gold exchange will decide its price, it will benefit you, the government will benefit and transparency will increase a lot and fraud will not be there at all because when buying gold you suspect that it is pure. Whether or not it is true or not, is there any adulteration in it, or if we are not being cheated, when we go to sell gold, will we get the price or not
If you have gold in the form of jewelery, then it will benefit you and accelerate the economy of the country, 25000 tons of gold is kept in the form of jewelery in the houses of Indians, in lockers, bank lockers, and one thing if gold is in your house. You are worried about his safety, although you arrange for the safety of gold, there is always some monkey in your mind, fear remains when you will buy gold in share form, you have that gold on your paper. You will pass and your gold will be completely safe with the government. When we keep gold in bank lockers, you believe that our gold is safe. Similarly, when the gold exchange is formed, you will also believe that our gold Reserved on the gold exchange
There are already gold exchanges operating in China and Turkey, it is completely safe and very successful, this gold exchange will start in our country by next year.
In which you can buy gold freely and you will not worry about its safety and that gold will always be on paper with you.
Source : Aaj Tak News