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COMMODITY EXCHANGES : NCDEX
| NMCEIL |
MCX | Bullion
Market
 AGRO PRODUCTS : Basmati Rice | Castor Oil | Chana | Coffee | Cotton | Crude Oil | Gaur | Gur | Jeera | Jute | Maize Mustard | Peas | Pepper | Red Chilli | Rice | Rubber | Soyabean | Sugar | Turmeric | Urad | Wheat METAL PRODUCTS : Copper | Gold | Silver | Steel GOLD
A very ductile and
malleable, brilliant yellow precious metal that is resistant to air and
water corrosion. It is a precious metal that is very soft when pure (24 Kt.). Gold is the most malleable (hammerable) and ductile (able to be made into wire) metal. Gold is alloyed (mixed with other metals, usually silver and copper) to make it less expensive and harder. The purity of gold jewelry is measured in karats. Some countries hallmark gold with a three-digit number that indicates the parts per thousand of gold. In this system, "750" means 750/1000 gold (equal to 18K); "500" means 500/1000 gold (equal to 12K). Alloyed gold comes in many colors. World Gold Markets
Indian Gold Market
Main features of Key Asian Gold Markets
Gold conversion
For example : 10 ounces troy = 311.035 grammes Market Moving Factors
Gold coated measures Many gold-coated articles are also used as substitutes for solid karat gold. The thickness of the coatings are often expressed in millionths of an inch, or microinches, and the table below provides a way to translate between these and other measurement units. 1 millionth inch (microinch) = 0.0254 micron 1 thousanth inch (mil) = 25.4 microns 1 millionth meter (micron) = 39.37 microinches 1 millimeter = 39.37 mils Fine gold content The minimum fineness is 995 parts per 1000 fine gold and gold said to be 1000 fine is marked down to 999.9 fine. The following fine gold contents of other bar weights are accepted by the London Bullion Market Association (LBMA). These bars are available at the spot Loco-London price plus a premium which varies dependent on prevailing market conditions in different locations.
Jewellery consumption
GOLD THROUGH THE AGES The history of gold begins in remote antiquity. But without hard archaeological evidence to pinpoint the time and place of man's first happy encounter with the yellow metal, we can only conjecture about those persons, who at various places and at different times first came upon native gold. Experts of fossil study have observed that bits of natural gold were found in Spanish caves used by the Paleolithic Man about 40,000 B.C. Consequently, it is not surprising that historical sources cannot agree on the precise date that gold was first used. One states that gold's recorded discovery occurred circa 6000 B.C. Another mentions that the pharaohs and temple priests used the relic metal for adornment in ancient Egypt circa 3000 B.C. However, it is curious to note that the early Egyptian's medium of exchange was not gold but barley. The first use of gold as money in 700 B.C. is claimed by the citizens of the Kingdom of Lydia (western Turkey). Surely, you remember the kingdom of the famous fortune seeking King Croesus - circa 550 B.C. Uses of gold Gold has been prized by people since the earliest times for making statues and icons and also for jewelry to adorn their bodies. Intricately sculptured art objects and adornment jewelry have been uncovered in the Sumerian royal Tombs in southern Iraq and the tombs of Egyptian kings. Significant buildings and religious temples and statues have been covered with thinly beaten sheets of gold. Due to its rarity, gold has long been considered a symbol of the wealth and power of its possessor. In 2001, it was estimated that 2870 tons of gold were produced worldwide. About 80 percent of that gold production was used to make jewelry, the majority of which was sold in India, Europe and the United States of America. Gold jewelry is universally popular, loved for its lustrous yellow color and untarnishing character. In many Asian countries, such as India, Thailand, and China, gold is important to religious ceremonies and social occasions, such as the Chinese New Year and Hindu marriages in India. |
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