A salesman counts strands of gold necklaces at a Dwarkadas Chandumal Jewellers store in Mumbai (Photographer: Dhiraj Singh/Bloomberg)
India has a love-hate relationship with gold. Indians love gold. Indian policymakers hate that they love it. An estimated 24,000 tonnes of gold lies unused with Indian households and religious institutions, according to a 2018 report by the NITI Aayog. From time to time, efforts have been made to bring this gold into the productive economy — from gold monetisation schemes to gold bonds and now the gold stock exchange.The gold exchang...