Bharatiya Nirdeshak Dravya (BND) -4201 Becomes India՚s First High Purity Gold Standard

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India Government Mint (IGM) , a unit of Security Printing and Minting Corp of India Ltd launched India՚s first homegrown high purity gold reference standard- Bharatiya Nirdeshak Dravya (BND-4201) .

Gold Demand in India 2017

What is BND-4201?

  • BND-4201 is reference material for gold of ‘9999’ fineness- gold that is 99.99 % pure with impurities of only 100 parts-per-million.
  • Created to ensure purity of gold for benefit of consumers and public.
  • BND-4201 was developed through collaboration between IGM, Bhabha Atomic Research Centre (BARC) , Council of Scientific & Industrial Research-National Physical Laboratory (New Delhi) , and National Centre for Compositional Characterization of Materials (Hyderabad) .

Significance of BND-4201

  • Gold reference standard is indispensable in gold and jewelry hall marking.
  • Reference will be useful for Collection and Purity Testing Centers to certify purity of gold deposits under gold monetization scheme.
  • India is second largest markets for gold after China but goldsmiths were depended on imported reference gold bars (mostly imported was sourced from Canada and Switzerland) to check purity of biscuits, coins and jewellery.
  • BND-4201 standard reference material will foreign dependency, propagate Make in India campaign, and save foreign exchange.
  • BND-4201 standard gold bar is 25 % cheaper than the imported version.
  • Cheaper option would encourage move towards methods that are more instrumental rather than conventional fire assay methods for testing purity of gold, which are time consuming and environmentally unfriendly releasing poisonous gases.
Bar and Coin Demand

Importance of Gold in International Monetary System

  • Gold has been valuable because it rare and useful
  • Fiat currency is worth based on market. However, in the 1930′s the United States of America was on the “Gold Standard” allowing people to exchange dollars for gold- $ 20.33 per ounce.
  • President Roosevelt (FDR) personally set the price of the value of gold for the U. S. and for the world. He would change the price daily as he saw fit.
  • With more paper money being printed more dollars are required to buy the same amount of gold.

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