There are two types of gold traded in India, i.e, 24K and 22K. The first one is considered the purest form of gold with a purity of 99.99 per cent. It is too soft to be moulded into jewellery.
Last month the price of gold hit a record high, pushing above $2,000 (£1,575) an ounce. While this price rise was driven by gold traders, it begs the question about the supply of the precious ...