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A Yield on Gold, Paid in Gold

March 17, 2017 By Philip Barton

Friday

Families, who are estimated to hold about 80{781366457d9c05ca9285c5eb3e04ac75968647e24436986cab65f74e6f4b3aad} of the accumulated Gold in India, have been offered a scheme by the Modi government that seeks to put that their Gold to use – government use.

On offer is 2.5{781366457d9c05ca9285c5eb3e04ac75968647e24436986cab65f74e6f4b3aad} interest; not bad for Gold.  The problem is that the interest is not paid in Gold; it’s in paper.  People hold their wealth in Gold because they don’t trust the stability of value of paper – particularly right now in India.

So how have Indians responded?

Forty-eight government approved purity testing centres have been opened but, according to  Harshad Ajmera, president of the Indian Association of Hallmarking Centres, have yet to test a single gram of household Gold.

Oh dear.

There is only one company offering to pay a yield on Gold, paid in Gold.

Disclaimer – yes, I’m involved

Filed Under: Philip Barton Tagged With: accumulated Gold, gold, Gold interest, Harshad Ajmera, India, Indian Association of Hallmarking Centres, interest on Gold, Modi, paper profits, yield on Gold

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