Sakhiaa....: February 2014

Tuesday 25 February 2014

Production of gold in India

Gold producing countries:

South Africa
United States
Australia
China
Canada
Russia
Indonesia
Peru
Uzbekistan
Papua new Guinea
Ghana
Brazil
Chile
Philippines
Mali
Mexico
Argentina
Kyrgyz tan
Colombia

The largest producer of Gold is South Africa. It accounts for an estimated 16.5 million ounces of Gold annually in the next 3 years; and produces almost 20 percent of the world's bullion. Hoping to control its declining production trend due to the extended weakness in the price of Gold in recent years, the South African Gold Industry is working in the direction to lower its production costs and

boost productivity. The second largest producer of gold is United States. It accounts for an estimated 10.4 million ounces of Gold annually by 2001 and produces about 12.5% of the world's Gold supply. Due to the expansion US Mining operations, and because of the reduced profitability due to the low price of Gold, reduction in mine production is expected by 9% by the US during the next three years. The third largest producer of gold is Australia with an estimated 9.6 million ounces annual production by 2001.

Nearly 45% of the world Gold supply was produced by the top three producing nations. Latin America (Mexico, Peru, Chile and Brazil) and the Far East producers are expected to increase production in the next three years. Though these countries add up to a very small share in world's total supply, their production increase will counteract some of the production cuts made by the top three, big producers.

Production of gold in India:

Gold holdings in India are estimated to be in the range of 10000-13000 tonnes and are predominantly private. India's gold consumption is 25% of world's total gold production. India has a very limited gold production of around 9 tonnes in 2002. The domestic production of the gold is very limited which is around 9 tonnes in 2002 including 2.940 tonnes from mines and 6.203 tonnes from Birla Copper. More than 60% of Indian consumption is met through imports. The availability of recycled Gold is price sensitive and the fabricated old Gold scraps is price elastic and was estimated to be near 450 tonnes in 2002 almost more than 40%

Glorious Gold jada designs

Kajal agrawal displauing heavy handmade Temple jewellery!!

South Indian actress Anjali with designer gold traditional Lakshmi haram, vaddanam, jada and tika from South India Shopping Mall!!

Designer gold traditonal necklace Asta Lakshmi necklace., paired with Lakshmi jada, Vaddanam, Mang tikka and mesh work bangles!!

Check out designer gold jada antique design work!!

Check out designer traditional gold jewellery, paired with jada!!

Checkout Traditional gold Jada or Choti.

Monday 24 February 2014

Maang tikka/ Jhoomar looks

South Asian brides have some of the most beautiful outfits and jewellery worldwide. A very important part of the bridal jewellery set is a maang tikka and/or a jhoomar for Muslim brides. Some brides choose very simple one stranded tikka's while other brides go grand with the whole head variety. Here is a typical South Indian bride choice.

Indian Gold History

Gold is a brilliant yellow precious metal that is resistant to air and water corrosion. It is a very soft and pure metal(24Kt.). Gold is the most malleable and ductile metal found on earth. That's why it is expensive and it is alloyed with other metals, usually copper and silver to make it less expensive and harder. A karat is the unit that measures the purity of gold jewelry or else it is hallmarked with a three-digit number that indicates the parts per thousand of gold. The alloyed gold comes in many colors and may not be bright yellow all the time.

Overview:

World's largest gold producing country is South Africa with 394 tons in 2001. On the other hand, world's largest gold consuming country is India with an annual demand of 843.2 tonnes comprising of 26.2% of total world demands.

World's gold demand is constantly increasing and it is nearing record levels at 4000 tonnes per year while the mine production is constant at 2250 tonnes per annum (Source: World Gold Council)

The gold prices are moving upwards due to the reduction in production level as compared to the demand and also due to the weakening economy of the US.

It has been found out the total world gold production would decline about 30% over the next 7 years as the new discoveries in the major gold producing countries have become difficult, expensive and time consuming according to the studies done by The World Bank and Beacon Group.

History of gold in India:

Prior to 1962, India was the world's largest gold market and the main trading center was Bombay. In 1962, the government enacted the Gold Control Act, which prohibited the citizens of India from holding pure gold bars and coins due to loss of reserves during the indo-china war. It was declared that the old holdings in pure gold had to be compulsorily converted into jewelry. Pure gold bars and coins were to be dealt only by licensed dealers.

A large unofficial market sprung up which dealt in cash only as a consequence of this legislation that adversely affected the official gold market. This also made way for smuggling and black marketing, which comprised of many jewelers and bullion traders.

In 1990, India was on a verge of default of external liabilities as it had a major foreign exchange problem. It had to give up the concept of controlling and licensing as it led to nothing more than corruption and shortages. As a result, the Indian government pledged 40 tonnes from their gold reserves with the Bank of England. India had to adopt the concept of liberalization. The government abolished the 1962 Gold Control Act in 1992 and liberalized the import of gold in India for a duty payment of Rs. 250 per 10 grams. The government made up for the foreign exchange problem by allowing free imports and earning the taxes. This step expanded the gold market and it also waved off the unofficial trade i.e. smuggling and black marketing. This makes India the most price-sensitive market for gold in the world.

Indian Jewellery- Joy Alukkas Maharani collection

Check out Maharani collection from Joy Alukkas

South Indian bridal Jewellery

Designer Bridal Jewellery

South Indian bride wearing very large and broad antique haram with combination of small pink pota emeralds and rubies. Gold color South sea pearls and emerald beads bunches hanging throughout the bottom of the set. Also she wears medium sized pachhi long chain with floral patterned locket and south sea pearls, rubies, flat diamonds. Green enamel work embellished traditional temple choker, Paired with Lakshmi peacock CZ stones highlighting vaddanam.