What is the primary function of a gold exchange in India?

"To regulate gold prices and ensure uniformity across regions" "To facilitate spot trading of gold, similar to stocks or securities" "To eliminate the need for physical gold ownership" "To promote gold as a primary investment vehicle over stocks"

What does EGR stand for in the context of gold exchanges?

"Electronic Gold Receipt" "Exchange Gold Reserve" "Equitable Gold Rate" "Enhanced Gold Standard"

Which of the following is NOT a responsibility of vault managers in the gold exchange framework?

"Accepting and safeguarding gold deposits" "Creating EGRs representing deposited gold" "Setting the spot price of gold in the market" "Maintaining records of gold transactions and purity"

What is the significance of EGRs being 'fungible' in nature?

"It allows for the exchange of EGRs between different vault managers" "It ensures the perpetual validity of EGRs, allowing holders to keep them indefinitely" "It guarantees the quality and purity of the gold represented by the EGR" "It enables the trading of EGRs in denominations as small as 1 gram"

According to experts, what potential impact could gold exchanges have on gold prices in India?

"Gold prices are likely to increase due to increased demand" "Gold prices could stabilize as India gains control over its own pricing" "Gold prices may become more volatile due to speculation in the market" "Gold prices are expected to align with international markets like the London Bullion Market"