ID 3600
FullText File
Title Alternative
India’s Imports of Gold and Silver and the Bombay Bullion Market in the 1920s
Authors
DOI
Journal Title
The Wakayama economic review
ISSN
04516222
NCID
AN00071425
Volume
395
Start Page
33
End Page
55
Order
03
Published Date
2018-12-01
Language
jpn
Docuemnt Type
論文
Keywords
インド
金銀輸入
地金市場
Keywords Alternative
India
Import of Gold & Silver
Bullion Market
Abstract Alternative
This article analyzes private demand for gold and silver in India and examines the constitution and trading procedures of the Bombay Bullion Market in the 1920s. Precious metals were in high demand as a savings vehicle among Indians because of the unstable political situation and the poor banking facilities in India. This savings habit was so deeply rooted that its fall in the near future could not have been anticipated at the time. On the other hand, the Bombay Bullion Market, dealing with both spot transactions and forward and options contracts, was one of the most advanced and dynamic bullion markets in the world. A large variety and number of speculative bullion dealers operated in the market. Though India’s monetary system at that time, which was the gold exchange standard system, was intended to restrict India’s absorption of gold, it could not interfere with these situations. This was one of the reasons that India continued to import a large amount of gold.
Content Type
Departmental Bulletin Paper
Text Version
publisher