Gold prices touched a record as high as Rs 19.145 per ten grams in the last few weeks as the demand for the yellow metal continued to be strong.
Even in an uncertain global economic situation gold seems to be the preferred destination of investors’ money. Besides the individual investors there are indications that even big pension funds and central banks, which are getting worried about the government bonds, are also actively buying gold.
According to the World Gold Council India has been the largest gold market in terms of Volume. Around 18,000 tons of gold sits in the hands of private Indian consumers.
The retreat of good monsoon and arrival of festivals the gold demand for gold is further expected to rise.
What is keeping the Indians glued to gold?
Basically, investors are looking to protect themselves against inflation, currency and market volatility. With the ongoing economic volatility gold offers retail investors simplicity, transparency and security in highly volatile markets.
Source: Outlook money (22nd Sept)
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