Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

For the domestic market 1990 - 2001
Excludes the recycling of old gold
Tonnes
Year Industrial fabrication Coin Jewellery & Total
Decorative Medical Electronic Total fabrication bar
hoarding
(net usage)
1990 1.1 0.2 0.2 1.5 - 176 178
1991 3.5 0.2 0.5 4.2 4 149 157
1992 5.0 0.3 0.5 5.8 7 251 264
1993 16.7 1.0 1.0 18.7 10 212 241
1994 16.3 1.0 1.0 18.3 13 267 298
1995 14.0 2.0 1.0 17.0 16 253 386
1996 16.0 2.0 1.0 19.0 16 376 411
1997 14.5 2.0 1.0 17.5 19 609 645
1998 15.0 2.0 1.2 18.2 23 650 691
1999 24.0 3.0 1.2 28.2 27 599 654
2000 27.0 4.0 1.0 32.0 31 617 680
2001 37.0 5.0 1.0 43.0 35 603 681
Total 190 23 11 223 201 4,862 5,286
Table source: Grendon International Research
GOLD SUPPLY AND DEMAND
INDICATIVE USAGE OF NET NEW GOLD SUPPLY
Sources. Grand total: uses figures in “Net New Gold Supply” table. Industrial fabrication (decorative, medical and electronic): estimates by
Madhusudan Daga. Fabrication of minted coins/bars: GIR in consultation with fabricators, and Madhusudan Daga who believes fabrication in recent
years may have been higher. Jewellery fabrication (net) & bar hoarding (net): a residual figure.
Between 1990 and 2001:
• Industrial fabrication has grown from less than 2 tonnes to an indicative 43 tonnes.
• Coin fabrication has grown from zero to an indicative 35 tonnes.
• Net gold usage for jewellery & bar hoarding grew to 650 tonnes in 1998, but has since fallen to about 600 tonnes.
Net gold jewellery demand & net bar hoarding are combined for 3 reasons.
Both have an investment dimension. Many hoarded bars enter the jewellery market over time. Among analysts there is not
yet a broad consensus about the split.
AN INTRODUCTION TO THE INDIAN GOLD MARKET 171