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India is notorious in the gold market for the voracious appetite for gold of all the population, but gold import and demand are raising while huge sums of gold collect dust in temples. What has been the measure taken by the Indian government? Will it satisfy the demand?

Find it out!

In India gold is given traditionally as a gift and in inheritance since it is a good that, due to its limited quantity, increases its price with time. But it's this scantiness what afflicts the Indian government as there is an increasing jewelry gold demand and trade deficit of the country brought about by the high price of gold imports, which annual figures goes from 800 to 1,000 tons.

At this juncture the government has decided to launch a scheme in May to make Indian temples give away their gold reserves to deposit them in banks, of course in return for interest payments.

Through the years thousands of faithful have offered gold as a gift to deities in these temples and with time it has created real gold treasures in jewelry, bars and coins kept in security vaults.

One remarkable example is given by the Shree Siddhivinayak temple in Mumbai dedicated to Ganesha, which treasure reaches 158kg of gold worth nearly $70 million. Another secret vault underground was found some years ago, with a reserve of about $20 billion.

Still, same as the Hindu elephant-headed god would protect a goddess according to the legend, the faithful are willing to protect the gold they entrusted the temples for religious reasons. As well, this is a chore which few Hindu priests would embrace with any degree of enthusiasm, unless the interest rates for deposits are of their interest.

Yet the government hopes to clinch a deal. Just in gold imports the impact would help establish a balance in trade, and there would be more jewels to supply the demand during the main festivals and wedding season.

The ballpark figure of the gold accumulated in all temples is 3,000 tons. And if only families would offer their private reserve the figure would reach even 17,000, but it is unlikely to happen.

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Read more: Top 10 Gold Producing Countries by Global InterGold

Have you heard the most talked-about topic among elite architects and elite entrepreneurs of gold business? What has drawn the attention of such different elites?

The city of Beverwijk and Global InterGold online store invites you to read further and dive into the luxurious gold world!

On 29 March, a new and unique building joined the must see list for everyone who visits the Netherlands. The building itself is a Gold Souq, a gold market indoor situated in the city Beverwijk designed and constructed by the Liong Lie Architects together with Leaders against routine.

Since its inauguration, European citizens do not longer need to travel to the City of Gold, Dubai, to enjoy a display of gold exhibits and jewelry. The new gold market in the Netherlands has attracted curious sightseers and customers who had the opportunity to buy quality products of any of the 29 jewelry stores

In order not to mislead distracted visitors, the building indicates its position with its shape of gold bar. The area of the facade is 1430m² and length is 35 meters and covered with golden triangles which shine and sparkle, leading people to think already of the treasures that can be found inside. The interior design is more modest – black walls, black ceiling and a beautiful lighting which emphasizes the beauty of the treasures presented on the stands. Undoubtedly, there is also a security system.

The building has already become very popular. People from Europe and other continents have gathered there to admire the products and the innovative building design, an example of extravagance and luxury, a new concept of gold market.

Gold has always been considered a symbol of elegance and magnificence. But that's not all, this precious metal is used by thousands of people as a safe haven asset to protect their wealth. People are more and more interested in buying gold, strengthening thus its position in the world market.

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Read more: Gold recycling and its impact in the future of gold by experts of Global InterGold.

Owing to the well-known qualities of gold such as malleability, ductility and its high resistance to corrosion, its use in technologies and industry has been increasing. But what happens when those devices become defective and need to be thrown away? Could that end with a huge quantity of gold in the long term?

Read on and find out the future of this precious metal!

The use of gold in technologies and industry has been increasing along with the industry development of the last decades. Consequently, all the gold that ever existed still remains somehow - except of course for the gold used in exclusive food and beverages.

Yet, all the industrial and technological devices stop working at some point, and if when they are thrown away the gold would be thrown too the losses would be enormous in the long run, adding the fact that it would contribute to a shortage of gold supply worldwide, and in turn would lead to a sharp increase in gold prices.

Here is where gold recycling industry comes into play. This industry guarantees – at least in part – the permanence of this precious metal in our world. Its importance can be summarized with the following fact: “The average from 1995 and 2014 of gold recycling comprised a third of world's total supply.” 90% of gold comes from jewelry, gold bars and coins, and the rest is made up by the gold pieces used in industry.

Nonetheless, according to the latest report of the World Gold Council and The Boston Consulting Group “The Ups and Downs of Gold Recycling” in 2014 due to low prices of gold, gold recycling showed the lowest figures in seven years and the forecast for 2015 is not much more positive.

According to Alistair Hewitt, Head of Market Intelligence at the WGC “Looking forward, we expect gold recycling to remain low in 2015, and possibly decrease further given that a large portion of near-market supply has been flushed out in recent years.”

In general, the decrease has affected mainly industrial countries, and it has gained ground in Eastern countries, namely China and India, the reason of which is beyond doubt.

A raise of awareness on gold's value has also contributed to this decrease. Gold is not used just in jewelry or pieces of art, where its main value for people is basically emotional, but also in the gold reserves of central banks and individuals where it acquires an economic driver character.

With the data at hand, investors and central banks could continue accumulating more and more gold reserves as, if its supply will be limited, the price will unavoidably grow in the nearest future.

The experts of Global InterGold company will keep you informed about the latest trends in gold market, so follow the news to be aware of the changes in price and benefits of this precious metal to make the right decisions, creating your own gold reserve to protect your wealth and the well-being of your future.

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