Gold investment ‘to overtake jewellery sales’
More residents of India will be looking to invest in gold in forms other than jewellery in the second half of 2010, it has been suggested.
According to Anjani Sinha, chairman and managing director of the National Spot Exchange, there will be a rise of 25 to 30 per cent in the number of people buying gold as bars and coins, when compared to the second half of 2009.
Speaking to Reuters, the expert claimed that, while gold jewellery is a traditional gift in the country, more people are realising the benefits behind using alternative forms of investing in the precious metal.
Mr Sinha explained: "We expect more investments into gold from retail and high net-worth individuals. People have started realising the fact that coins and bars would protect the value of their investment, unlike jewellery."
His comments follow the Economic Times' report that gold jewellery imported into India typically comes from the Middle East, UK, Australia, Africa or Switzerland.
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