( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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GOLD FLUCTUATION AND ITS IMPACT ON INDIAN ECONOMY

    1 Author(s):  PRIYANKA

Vol -  6, Issue- 7 ,         Page(s) : 261 - 265  (2015 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Gold has long been considered one of the most precious metals, and its value has been used as the standard for many currencies (known as the gold standard) in history. Gold has been used as a symbol for purity, value, royalty, and particularly roles that combine these properties. It is used in international transactions. Gold consumption observed a sharp acceleration during the 1990s amidst liberalization of gold import policy, strong economic growth and favourable movements in gold prices. Gold is now being used as an alternative for dollar since its collapse (Turk and Rubino, 2008). Monetary and Non-Monetary demand for gold is steeply rising. It has been demanded by individual buyer, institutional buyer as well as he Countries too. There has been drastic increase in the prices of gold since 2001. Gold prices have been increased by 900% during last 10 years. Traditionally gold has been a safe investment option in India, but its role has changed with the time. Gold is now being traded and forecasted as a commodity (Greely & Currie, 2008). Gold has entered in to secular bull market, since than the prices are on rise. Gold unlike any other commodity has been constantly providing plenty yield to its investors.

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