Gold could be traded freely in the British colonies and so gold bullion markets were introduced there. The financial capital of India, Mumbai, is the location of the country’s thriving gold bullion market, set up by the British during colonisation.
This gold bullion market that is known as Zaveri Bazaar is every bit as active as other major gold bullion markets including that of London. The Zaveri Bazaar is well placed to cater for the demanding Indian market as tourists visit the Bazaar to buy gold bullion for both decorative and investment purposes.
The gold bullion market in Mumbai has survived since its opening in 1860 as traders from India and neighbouring countries visit the bustling market to trade in gold.
On the other side of the world the London gold bullion market trades the commodity in huge quantities. The operations of this gold bullion market are overseen by the Bank of England and the people that trade here include multi-national banks as well as dealers in bullion and gold refiners.
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