India is the second largest consumer of gold globally with annual gold demand of approximately 800-900 tonnes, and it holds an important position in the global markets. However, the domestic market is currently plagued by challenges such as lack of quality assurance, weak price transparency and high market fragmentation. A gold spot exchange can address these challenges and eliminate resulting market inefficiencies.
As such, this report has been prepared by the industry steering committee, chaired by the World Gold Council, to deliver a blueprint for a proposed gold spot exchange in India.
This report has been designed to be both wide ranging and inclusive, covering our vision for the future combined with pragmatic guidance around successful implementation.
As a consultation document, the committee welcomes suggestions and comments from the wider industry.