Gold finds takers among many and not just women. The yellow metal, which is tracked keenly worldwide for its safe-haven attribute, is used for many purposes — making jewellery, medals to reward winners, as a reserve by countries and yes, for storing black money. However, there are weird instances of gold being used for purposes that one would least imagine.
India is the second-largest consumer of gold, the first being China. The metal is also held as a reserve by countries globally.
According World Gold Council (WGC) statistics released on January 5, 2017, the US tops the list with 8,133.5 tonnes, followed by Germany at 3,377.9 tonnes and Italy at 2,451.8 tonnes. China's gold holding stood at 1,842.6 tonnes and was ranked 6th by the WGC.
Other countries with significant gold reserves include France, Russia, Switzerland and Japan.
India stands 11th with a holding of 557.8 tonnes, while Pakistan has just 64.5 tonnes of gold in the form of reserves. A lot of gold holdings in India are held by households and temples, the two famous being the Venkateswara Swamy Temple (Tirupati Balaji temple) and the Padmanabhaswamy Temple in Thiruvananthapuram.
Here we bring you some rare, interesting and weird images of the yellow metal finding its way in many ways, some unthinkable.
On Friday, gold prices closed Rs 400 lower at Rs 29,150 per 10 gm in the Delhi bullion market. Speculation is ride that the Narendra Modi government could reduce import duty on gold from the current 10 percent in the upcoming budget scheduled to be presented on February 1, 2017.