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Proposed gold exchange in India wouldn't allow 'paper' gold
SEBI Proposes Framework for Gold Exchange, Suggests Electronic Receipts
From the Press Trust of India
via Business Standard, New Delhi
Monday, May 17, 3021
India's markets regulator, the Securites and Exchange Board of India (SEBI), today proposed an elaborate framework for setting up a gold exchange wherein the yellow metal will be traded in the form of electronic gold receipts and will help in having a transparent domestic spot price discovery mechanism.
Also, the proposed denominations -- reflecting underlying physical gold -- of Electronic Gold Receipts (EGRs) are 1 kilogram, 100 grams, and 50 grams, and subject to conditions, those can also be even for 5 and 10 grams.
... Dispatch continues below ...
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Apart from issuing a consultation paper on the gold exchange, the watchdog has come out with draft norms for vault managers and they will be registered as a SEBI intermediaries.
The proposed gold exchange, encompassing the entire ecosystem of trading and physical delivery of gold, is extremely necessary to create a vibrant gold ecosystem in india which is commensurate with its large share of global gold consumption, according to SEBI. ...
The regulator noted that the vault manager should ensure that no EGR is created without the presence of physical gold in the vaults. ...
... For the remainder of the report:
https://www.business-standard.com/article/markets/sebi-proposes-framewor...
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Tuesday-Friday, October 19-22, 2021
https://neworleansconference.com
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
