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Precious Metals

 A Historical Perspective


Indian Precious Metals demand has always been very active especially Gold and Silver as Indian's are known worldwide for their love for Gold, be it simply Bars or Ornaments or Coins. This has been the case ever since Gold was first discovered or introduced into India. Kings & Emperors have been known to stock Gold and the Nizam of Hyderabad's treasure most of which was "taken & auctioned" would have in todays terms been able to wipe out the entire external debt of our country had it all still been in India. Jewellery Exports is a major revenue earner for India today and all types of precious Metals, Gems and Diamonds are today imported into the country and some even re-exported after re-processing or cutting.
There are three important gold mines in the country, Kolar Gold Field & Hutti Gold Field in Karnataka and Ramagiri Gold Field in Andhra Pradesh. Total gold metal ore reserves are estimated at 177.9 lakh tonnes, with 68 tonnes of metal.