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India’s Demonetisation decision likely to affect Gold Market in the short term: World Gold Council (WGC) report

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Delhi, Jan 13, 2017: India’s demonetisation decision is likely to affect gold demand in the short term, a World Gold Council (WGC) outlook report released on Friday stated.

“In India, the government’s decision to remove large denomination rupee notes took around 86 per cent of India’s circulating cash out of its economy,” according to the Outlook 2017 – Global Economic Trends and their impact on gold, released by WGC.

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“While the purpose is to replace them with newly printed notes, we believe that the liquidity squeeze could have a temporary negative effect on economic growth, and may also affect gold demand in the short term.

“But more importantly, we believe that the transition to transparency and formalisation of the economy will lead to stronger Indian growth in the longer term, thus benefiting gold,” the report added.

The WGC said there are six major trends to be watched out for in 2017 from economic perspective that would impact the gold market.

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The trends are: Heightened political and geopolitical risks; currency depreciation; rising inflation expectations; inflated stock market valuations; long-term Asian growth and opening of new markets. The report said gold is becoming more mainstream. Gold-backed exchange traded funds made gold accessible to millions of investors, primarily in the West, over the past decade, but other markets continue to expand too.”

It said, “China has seen dramatic growth in recent years through gold accumulation plans, physically settled gold contracts in the Shanghai Gold Exchange. In Japan, pension funds have increased their gold holdings over the past few years.”

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In the corporate sector, more than 200 defined-benefit pension funds have invested in gold. In addition, more than 160 defined-contribution plans have added gold to their list of investments.

“We expect this trend to continue and expand into Western markets, where pension funds have had to rethink asset allocation strategies following prolonged exposure to low (and even negative) interest rates. In our view, this will result in structurally higher demand,” the report said.

“Innovation is evident across all markets, but at the end of last year one development stood out. The Accounting and Auditing Organisation of Islamic Financial Institutions (AAOIFI), with support from the World Gold Council, launched the Shari’ah Standard for Gold, opening up the Muslim world to gold investment,” it added. (IANS)

 

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Your body could soon power wearable devices

The study described a small tab (1.5 centimetres long, by one centimetre wide). It delivered a maximum voltage of 124 volts, a maximum current of 10 microamps and a maximum power density of 0.22 millwatts per square centimetre.

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The tab consists of two thin layers of gold, with polydimethylsiloxane (also called PDMS — a silicon-based polymer used in contact lenses, Silly Putty and other products) sandwiched in between. Wikimedia Commons
The tab consists of two thin layers of gold, with polydimethylsiloxane (also called PDMS — a silicon-based polymer used in contact lenses, Silly Putty and other products) sandwiched in between. Wikimedia Commons

Researchers have developed a metallic tab which, when connected to a human body, is capable of generating electricity from bending a finger and other simple movements.

According to a research project led by the University at Buffalo, New York, and Institute of Semiconductors (IoP) at the Chinese Academy of Science (CAS), the tab — a triboelectric nanogenerator — can convert mechanical energy into electrical energy for electronic devices.

“The human body is an abundant source of energy. We thought: ‘Why not harness it to produce our own power?’” said lead author Qiaoqiang Gan, associate professor at the University at Buffalo.

The tab was detailed in the journal Nano Energy. Triboelectric charging occurs when certain materials become electrically charged after coming into contact with a different material. Most everyday static electricity is triboelectric.

Also Read: Scientists Use Pocket-size Device to Map Human Genetic Code

The tab consists of two thin layers of gold, with polydimethylsiloxane (also called PDMS — a silicon-based polymer used in contact lenses, Silly Putty and other products) sandwiched in between.

The tab was detailed in the journal Nano Energy. Wikimedia Commons
The tab was detailed in the journal Nano Energy. Wikimedia Commons

One layer of gold is stretched, causing it to crumple upon release and create what looks like a miniature mountain range. When that force is reapplied, for example, from a finger bending, the motion leads to friction between the gold layers and PDMS.

“This causes electrons to flow back and forth between the gold layers. The more friction, the greater the amount of power is produced,” said Yun Xu, a professor at the IoP.

The study described a small tab (1.5 centimetres long, by one centimetre wide). It delivered a maximum voltage of 124 volts, a maximum current of 10 microamps and a maximum power density of 0.22 millwatts per square centimetre.

Also Read: Mitra: An Indian Robot That Greets You With A ‘Namaste’

That is not enough to quickly charge a smartphone, but it lit 48 red LED lights simultaneously. The team is planning to use larger pieces of gold, which when stretched and folded together are expected to deliver even more electricity.

The researchers are also working on developing a portable battery to store energy produced by the tab. They envision the system serving as a power source for various wearable and self-powered electronic devices. (IANS)