Ban Gold

How Gold is used in India :

--  As investment - individuals and RBI

--  As ornaments or to obtain quick loan by mortgage of ornaments

--  As offerings to God or Godess

Thus banning of Gold may not be feasible. However, another method of investing in gold may take the form of "Gold ETF Funds", where actual gold is not required.

The idea of utilizing gold for productive purpose is a good idea. But banning of this metal in not practical.

Banning gold and investing the money in infrastructure is a bad idea in the present scenario. The business of infrastructure like many other is plagued with corruption, there is still a long way to go before we can implement such steps. MOreover Gold in itself is a substantial investment and its value is less effected by market scenario.   

U mean gold jewellery or Gold bars / coins ? Whether U ban RBI to hold gold ?

Banning both of them is ridiculas. Why bann atall ? Ours is a capitalistic society and every individual has his/her choices how they invest, where they invest. Basically U seem wanting to chanalise all surplus fund to generate more wealth for the citizens. But banning gold is not the option.

Mangala Ji is absolutely right.There is no point in banning gold just because we are the largest importer & spend huge amount of money owning it.People have also started seeing gold as an investment option and seeing the current upward trend in the prices of gold it is definitely an attractive option for all the investors.

yeah madam devi

rather than banning or not " GOlD "

let's all  cultivate a state of mind where " GOLD " and " iron " carry equal weightage to us.

because kaliyug mein gold is one of the  main causes of dispute.

Banning GOLD would invoke a lot of cultural and moral disputes amongst communities who believe that the kilos they posses adds to their value in society. We must remember that our people have an attitude to flash the yellow just to assert their MONEY power! Its rampant in South particularly! UP is also there in the same bracket!

Its only developed Metros where this kind of attitude is existing in very neglible numbers! we would understand the implication of what you actually mean Mr. Paul. It has a lot of credence. But getting the people over the country to follow would be a huge ask! Also, how many people actually declare their asset value in terms of GOLD! has the government made it mandatory to declare the possesed quantity of GOLD per individual in the tax papers for it to get hold of the actual floating weight? No. It has to implement a standard policy for possesion of this precious metal and then what you suggests comes through... Maybe it would be nicer world to live in where people are not judged by the yellow they carry but the work that they do!

This idea of yours Sir, is very powerful indeed as the whirlpool effect of this would also lead to DOWRY being non existent!

Firstly I must thank Mr. Abraham for referring this topic to me even though I don't live in India and the Indian economy do not affect me in any way. However I will share my views on the topic. Before I do so I wish to point out that one of my country's main export is gold and also I am a lover of gold jewellery and I do like the Indian gold jewellery. 

It is true that India is the largest importer and consumer of gold in the world and billions of dollars are spent. However, I don't think there should be a ban on gold in India. Think about what will happen to the gold industry and how it will be affected. What about the tradition of use of gold in India? I also saw an interesting article refer to"India gold futures may trade higher on foreign cues">>http://in.reuters.com/article/businessNews/idINIndia-39447520090506.

The bottom line is based on feasabilty studies the government should make this sort of decision whether to ban or not to ban.

Banning may increase illegal import of gold and will have its own issues and trap of wrong practice.