Technological Impact of Gold as a Natural Resource in Australia and it’s Impact on Australian Economy
Rohit Sood1, Neeru Sidana2, Ajay Sidana3

1Rohit Sood, Assistant Professor with “Lovely Professional University” Jalandhar-Punjab.
2Neeru Sidana, Associate Professor with “Lovely Professional University” Jalandhar-Punjab.
3Ajay Sidana, Associate Professor in India’s largetest private University “Lovely Professional University”, Jalandhar- Punjab.

Manuscript received on 04 July 2019 | Revised Manuscript received on 09 July 2019 | Manuscript published on 30 July 2019 | PP: 3166-3170 | Volume-8 Issue-9, July 2019 | Retrieval Number: I8968078919/19©BEIESP | DOI: 10.35940/ijitee.I8968.078919

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Abstract: This research represents the demand and supply of Gold as a natural resource and it’s contribution to the GDP of the country. The market for gold is dynamic in nature and many factors are impacting it at any given time. Gold having an economic feasibility leads to exports and investments and its consumption consists of precious jewelry and watches etc. It is the utmost important natural resource for the world and Australia is having it in abundance. It acts as a catalyst to investment in terms of storage of value for the people of the country and in terms of mining for the producers. Gold exports contribute to the economic output and ultimately leads to the incremental GDP of the country.
Keywords: Competitive Advantage, Demand and Supply, Gold, Gold Exports, Natural Resource.

Scope of the Article: Social Sciences