History Gold, the first metal used by humans, remains one of the most valued metals since prehistoric

times. Egyptian hieroglyphs dating 2600 BCE describe gold as something king Tushratta of the Mitanni claimed was as "common as dust" in Egypt. Egypt and Nubia had the resources to make them major gold-producing areas for much of history. Gold is also mentioned several times in the Old Testament. Gold has been considered for ages as one of the most precious metals, and its value has been used as the standard for many currencies in history. Gold has been used as a symbol for purity, value, royalty, and particularly roles that combine these properties. Like other precious metals, gold is measured by troy weight and by grams. When it is alloyed with other metals the term carat or karat is used to indicate the amount of gold present, with 24 carats being pure gold and lower ratings proportionally less.

The purity of a gold bar can also be expressed as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as 0.995 and 0.999. The price of gold is determined on the open market, but a procedure known as the Gold Fixing in London, originating in 1919, provides a twice-daily benchmark figure to the industry

Current scen

Domestic Market India is the largest consumer of Gold in the world accounting for nearly 25% of the total gold consumption in the world. Most of Indias gold consumption is in the form of jewellery and as investment demand. Indian gold demand is supported by cultural and religious traditions which are not directly linked to global economic trends as a result of which demand remains steady even during high prices. International Market Gold demand in 2010 reached a 10 year high of 3,812.2 tonnes. Demand was up 9% year-on-year, and marginally above the previous peak of 2008 despite a 40% increase in the annual average price level between 2008 and 2010. In value terms, total annual gold demand surged 38% to a record of US$150 billion. China is currently the largest producer of Gold in the world having overtaken US in the last couple of years. Asian consumers led demand with the revival of the Indian market

and strong momentum in Chinese gold demand, which together constituted 51% of total jewellery and investment demand during the year 2010 Future pros The steadily rising prices of Gold reinforces the inherent value of gold jewellery, an intrinsic part of its desirability and also as a means of investment. The growth in investment demand has sparked numerous innovations in gold investment, ranging from online bullion sales to gold ETFs Recent research has uncovered a number of new practical uses for gold, including its function as a catalyst in fuel cells, as well as chemical processing and pollution control. The potential to use nanoparticles of gold in advanced electronics, glazing coatings, and cancer treatments offers promising new areas of scientific research. Factr influencing price

Rise in Investor demand. Robust Jewelry off take. Geo-political concerns US dollar movement against other currencies Indian rupee movement against the US dollar Central Banks diversifying into bullion Fall in Supply Central Bank Sales Slowing and Massive De-Hedging Gold Mine Production
Gold future Gold Futures contract started trading on NCDEX platform from 2004 onwards has witnessed considerable volatility. Using futures platform importers & domestic buyers can minimize their price risk. Wide range of Market participants ensure good price discovery. With ever increasing import demand, importers can insure themselves against price risk. Disparity between import prices provide good arbitrage opportunities to the various market participants. ture Hist chArt

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Year Commodity 2011 Gold 2011 Gold 2011 Gold 2011 Gold 2011 Gold 2011 Gold

Volume (Rs In Lakhs) 1397078 2353946 1781503 52410 122315 254560

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Conversion: Rs. 10 Lakhs = Rs. 1 Million