look news india
Top 11 countries with the most sleep: Whenever there is economic instability in the world and there is a major impact on global trade, apart from international organizations, countries are also planning accordingly. The thing is that after the Industrial Revolution the graph of development of the entire world changed. After that many times the situation of various countries and centers of the world economy went haywire. Then it improved. The world's attraction towards gold began to increase after the economic difficulties and challenges experienced by various major countries in the 18th century. Especially from the beginning of the 19th century, countries of the world started accumulating gold reserves. Knowing that gold would lead to economic stability and viability in the face of future crises, countries began investing heavily in it. The gold standard was set by countries. The gold standard gained global recognition.
The gold standard is an important part of the world economy
It is noteworthy that the gold reserves were collected from those countries which had more quantity. This gold reserve determined the gold standard of the country. From the 19th century to the present, the gold standard became an important part of the world economy. On the other hand, the situation was such that since small countries did not have any special status, their gold standard could not be maintained and a feeling of instability prevailed. The gold standard was abandoned globally in 1970. Despite the abandonment of this standard, the accumulation of gold reserves by the world's major countries continued. Now the situation is such that economic uncertainty occurs in countries around the world at any time. Due to this, countries work with the mentality of accumulating gold in as good a condition as possible. Gold has been preferred as the primary safe-haven asset by the central banks of all countries and its hoarding has been given priority. America is at the forefront in the race to collect gold. It contains 8,133 tonnes of gold. Germany is in second place with 3,353 tonnes of gold and Italy is in third place with 2,452 tonnes of gold.
11 countries have the most gold in the world
Gold is a metal that has retained its attraction all over the world. Especially in a country like India, its demand is highest. If we talk about economic instability on a global basis, then the instability from the onset of Corona in 2019 to the occurrence of two wars in 2023-24 has again worried the world. Volatility in US interest rates, US economic crisis, geopolitical circumstances and war fever have again increased the demand for gold. By last December it had reached record levels. A study was conducted by the World Gold Council in late December last year. It was said that information about the gold reserves of the countries of the world was collected in collaboration with the central banks of various countries of the world, Federal Reserve Banks, Federal Reserve Bank of St. Louis, International Monetary Fund. It was said that 11 countries of the world have the largest reserves of gold.
China and Russia started buying gold like America
According to the World Gold Council, America has the world's largest gold reserves. The US government has 8,133 tonnes of gold in its gold reserves, which is the highest gold reserve of any country in the world. Gold is extracted and purchased in large quantities by America. He is constantly trying to increase his gold reserves. On the other hand, China and Russia, who consider America as their arch enemy and rival, are also buying and accumulating large amounts of gold to increase their gold reserves. The gold that America collects is stored by its 12 Federal Reserve Banks. According to experts, gold is used for economic stability and crisis prevention. Apart from this, it is necessary to maintain gold reserves for the stability of the currency of every country. One-fifth of the gold found in America is deposited in Federal Reserve banks. Let us tell you that due to competition from America, China had bought 225 tonnes of gold last year. There are reports of 78 tonnes of gold kept in the gold reserves. Another big thing is that out of the 11 countries in the world which have the most gold, 7 also have the largest economies in the world.
There is an estimated 25,000 tonnes of gold in Indian homes and temples.
India is a country where gold is already preferred. The World Gold Council believes that thousands of tonnes more gold is stored in the homes and temples of Indians than what the Reserve Bank of India has. According to a report by the World Gold Council last year, an estimated 25,000 tonnes of gold is stored in Indian homes and temples. Which is three times more than the total gold reserves of America. According to council experts, when the study was done in 2020-2021, it was estimated that there would be 23000 tonnes of gold. The possibility cannot be ruled out that it has increased by about 2000 tonnes in two years. Experts believe that the gold in the homes and temples of Indians is 11 percent of the world's total gold reserves. In 2001, India had 357 tonnes of gold. Currently India has 806 tonnes of gold. India is continuously increasing its gold reserves. Before the end of this decade, India may reach the fifth position among the top gold-rich countries in the world.
0.5 percent production but demand more than 25 percent
According to World Gold Council informants, gold production in India is similar to that of India. In contrast, India's gold demand is one-fourth of the total global demand. Indians buy more than 25 percent of global gold every year. According to an estimate, Indians buy 800 to 900 tonnes of gold on an average. As the average income of Indians has increased over the last ten years, the demand for gold has also increased. On the other hand, people invest more in gold because it is the safest medium of investment. In Tamil Nadu, people spend 30 percent of their investment money on buying gold. Gold is something that is owned by women in the Indian social system and is considered an excellent means of earning, investing and selling or even taking a loan. In India, keeping gold in the house is considered auspicious and good both religiously, traditionally and socially, hence people keep gold in the house. Indians like to invest in gold because loan against gold is available anytime.
The demand for gold increases by 50 percent during weddings.
According to reports from global experts, there has been a huge increase in the demand for gold during weddings in India. The demand for gold in India increases by 50 percent during the wedding season. He says that in India 25 to 45 years is a big age. Apart from this, the age group of 25 years and below is 45 percent. As the income of these people increases and the demand for gold increases during weddings. According to experts, more than 1 crore marriages take place in India and on an average 200 grams of gold is given to the bride. Apart from this, according to IMF, more than 25 crore people in India have huge savings and a major part of their savings is spent on gold. Due to this, the demand for gold increases with economic growth and prosperity. Apart from this, if the average income of people in India increases by even 1 percent, then the demand for gold increases by 1 percent. Apart from this, if the monsoon is good in the village, the demand for gold increases by 1 percent. The biggest discrepancy is that when inflation increases, investment in gold increases by 3 percent. Gold is considered the safest option to get good returns in a short time.
