GMS – it is good but is it good enough?

by Mr. Jayant Manglik, Chair, FICCI Working Group on Commodities and President – Retail Distribution, Religare Securities Ltd.

The Gold Monetisation Scheme (GMS) has been announced, as promised in the last budget. It is one of three parts of the strategy to address the problem of India being the largest importer of gold worldwide, consistently. This love for bullion has hurt India’s Current Account Decit (CAD) year after year. After crude oil, gold is our biggest import and led to 4.8% CAD in 2012-13. Therefore a long-term gold policy which can achieve the conicting objectives of quenching our thirst for gold while preventing foreign exchange outow was a long time coming. Clearly we have to make the huge amount of gold available in India productive and the GMS tries to do exactly that by monetizing the much-quoted, but really a guesstimate number, of 22,000 tons of gold worth about US$ 1 Trillion (about Rs 66 Lac Cr) accumulated by Indian households.

Continue reading “GMS – it is good but is it good enough?”

The ART of broking

by- Jayant Manglik, President of Retail Distribution at Religare Securities Limited 

The history of stock markets is littered with changes which significantly altered the pecking order of the largest brokerages. Most of the changes had to do with the advent of the new technology introduced by the newly formed NSE in 1994 with BSE playing catch up. The major changes have been market-transforming with increased reach and availability of sophisticated products, sometimes more advanced than several western nations. Continue reading “The ART of broking”

What are the factors affecting Gold prices

What are the Factors Affecting/Influencing Gold Prices? Continue reading “What are the factors affecting Gold prices”