Context: According to National Mineral Inventory data, India has 501.83 million tonnes of gold ore reserves as on April 1, 2015.
Key Points

• Gold has been the one material that is universally accepted in exchange for goods and services.
• India’s Forex Reserve also includes Gold along with Foreign Currency Assets (such as the dollars) and Special Drawing Rights.
• The United States has the largest gold reserve with more than 8,000 metric tons of gold and stands at the first spot.
• According to the World Gold Council, India has gold reserves of more than 600 tonnes, the 10th largest in the world. 
• The World Gold Council is the market development organisation for the gold industry. 
• In India, the largest reserves of gold ores are located in Bihar (44 per cent), followed by Rajasthan (25 percent), Karnataka (21 per cent), West Bengal (3 percent), Andhra Pradesh (3 percent), Jharkhand (2 percent).
• The Geological Survey of India (GSI) is actively engaged in geological mapping, followed by mineral exploration and surveys, of various mineral commodities with an aim to identify potential mineral-rich zones and establish resources.

World Gold Council

• It is the market development organisation for the gold industry. 
• Purpose: To stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. 
• It helps to support its members to mine in a responsible way and developed the Conflict Free Gold Standard.
• Headquartered in the UK, they have offices in India, China, Singapore, Japan and the United States.