GOLD IN INDIA

WHY IN NEWS?

Gold prices jump after rates increase by US Fed

BACKGROUND

Gold in its purest form is a bright, slightly reddish yellow, dense, soft malleable and ductile metal. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native) form, as nuggets or grains, in rocks, in vein and in alluvial deposits

Gold is a relatively scarce metal in the world and a scarce commodity in India. The domestic demand is mainly met through imports.

DISTRIBUTION OF RESERVES/RESOURCES

IN TERMS OF PRIMARY ORE

Bihar (44%) followed by Rajasthan (25%), Karnataka (21%),West Bengal & Andhra Pradesh (3% each) and Jharkhand (2%).

IN TERMS OF METAL CONTENT

Karnataka remained on top followed by Rajasthan, Andhra Pradesh, Bihar, Jharkhand

PRODUCTION

Karnataka is the largest producer of gold in India followed by Andhra Pradesh.

DISTRIBUTION OF RESERVES ACROSS STATES

KARNATAKA

• Gold mines are located in Kolar [Kolar Gold Field], Dharwad, Hassan and Raichur [Hutti Gold Field] districts

ANDHRA PRADESH

• Ramagiri in Anantapur district is the most important gold field in AP.
• Alluvial Gold [gold scattered in silt] and Placer deposits [gold bearing rocks] in small quantity are widely spread in a large number of rivers

JHARKHAND

• The state hosts both load and placer deposits. The deposits are found in Singhbhum district and other regions

of the Chota Nagpur plateau and as placer deposits along Subarnrekha river

ASSAM

• It is reported to occur in sands, gravels and alluvial terraces along the Subansiri river, the Lohit-Brahmaputra and other rivers in Lakhimpur, Darrang and Sibsagar

KERALA

• The river terraces along the Punna Puzha and the Chabiyar Puzha have some alluvial gold.

RAJASTHAN

• Udaipur Banswara region