Historically, commodity markets were present in a crude form and are believed to have originated in Sumer where small baked clay tokens in the shape of sheep or goats were used to trade. These clay tokens were sealed in clay vessels with a certain number written on the outside, to represent a promise to deliver that number. Thus was born commodity money - more than an I.O.U. but less than a guarantee by a nation-state or bank. They were also known to contain promised time of delivery, more like “Futures Contract”, in today’s world. Eventually the tokens disappeared, but the contracts remained on flat thick bases. This represented the first system of commodity accounting.

Commodity markets have evolved through time and have transformed to become a very transparent and systemized business model. Commodity exchanges today are geared to cater to lakhs of traders with trade volumes in billions. Gold is one such commodity on the exchange which is creating ripples in all of the International commodity exchanges and the yellow metal is luring one and all for investment. Gold related products on exchanges are becoming a safe heaven for investors who feel the rate of the yellow metal will only grow.

The New Jeweller bureau in this exclusive bullion report spoke to stalwarts of the industry only to find that “Future in Gold is lucrative”.