Gold
Gold is one of the very valuable metals in the world. It was once mode of exchange for Trade. It was also one of the attractions for invaders to attack those countries which were very rich in Gold. However now days the gold stock is being used by various countries to show their economic worth.
Besides that women are very much fond of Gold Ornaments. Indian Women also believes that' Gold Ornaments can be a great help to their families in the time of financial crisis as its value goes on increasing with time. Hence India is holding highest stock of gold of about 20000 to 23000 Tons in Private Hands. It also amounts that total Gold Stock in private hands is more than what Government India is holding. Every year additional Gold of 800 to 1000 Tons being imported by government of India for the Private Needs.
The investment in gold ornaments use to be considered dead investments. But now it is not so as Private and Government Banks have started giving loans against Gold and Ornaments thereon. They give loan up to 60% value of the Gold. In short the Investment in gold Ornaments are being made useful for the economical developments.
It will be surprising to know that three Private Companies in Kerala State in India are holding the Stocks of Gold against Gold Loans as under
1) Muthot Finance - 150.00 Tons
2) Munnapuram Finance - 65.90 Tons
3) Muthot Fin Corp - 46.88 Tons
While the Gold Stocks held by some of the Countries in the World are as under
1) Singapore- 127.40 Tons
2) Sweden -125.70 Tons
3) Australia - 79.90 Tons
4) Kuwait - 79.00 Tons
5) Denmark - 66.50 Tons
This is only to show that Private Finance companies in India are holding more Gold Stocks than some of the Countries in the World. It also show that the highest Gold Stocks of the World is in India and that too in Private Hands
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