You are here
Indian bond proposal aims to paperize gold
India Proposes Gold-Linked Bonds to Lower Bullion Imports
By Rajendra Jadhav and A. Ananthalakshmi
Friday, June 19, 2015
India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.
The Reserve Bank of India will issue the bonds for the government, with a minimum interest rate of 2 percent, according to a draft outline issued by the government late on Thursday.
"The main idea is to reduce the demand for physical gold," the draft said. ...
While the deposit scheme aims to mobilize idle household gold, estimated at more than 20,000 tonnes, the sovereign bond would allow consumers to invest in "paper" gold rather than physical gold.
The bond would pay an interest rate linked to the international rate for gold borrowing. ...
... For the remainder of the report:
Free Storage with BullionStar in Singapore Until 2016
Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.
For more information, please visit Bullion Star here:
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: