MMTC PAMP urges overhaul of India’s Gold Monetisation Scheme
MMTC PAMP argues India must make its Gold Monetisation Scheme more appealing to unlock household stocks, boost recycling, and cut import reliance.
Gold Market
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MMTC PAMP argues India must make its Gold Monetisation Scheme more appealing to unlock household stocks, boost recycling, and cut import reliance.
Gold climbed sharply on Wednesday, breaching $4,480 as US Treasury buybacks pushed yields lower, even as Fed minutes revealed three officials dissented in favour of a rate hike.
Gold bars offer lower premiums per ounce, while coins provide greater liquidity and divisibility; the choice depends on storage, budget, and resale goals.
Gold rose nearly 1% on Wednesday, helped by a softer US dollar and a pullback in long-term Treasury yields. Investors await the release of the Federal Reserve's July meeting minutes.
A gold ETF holds allocated bullion or derivatives, offering indirect exposure, while physical gold means direct ownership with storage and liquidity trade-offs.
Gold fell on the MCX but rose internationally as Treasury yields eased. Rising oil prices and inflation concerns limit rate cut expectations. Experts view the correction as a buying opportunity.
Central bank gold buying is tracked through official reserves reports, surveys, and filings with the IMF and World Gold Council.
Central banks hold gold reserves for diversification, as a safe store of value independent of any government, and to manage geopolitical and financial risk.
Real interest rates determine the opportunity cost of holding gold, making them a powerful driver of its price.