July 2, 2008

It’s Good Time to Invest in Gold, Says Council

CHENNAI: With crude prices hitting the roof and the stock market is nosediving, gold is emerging as a good hedge option against inflation. "It is the right time to invest in gold," says K Shivram, vice-president, World Gold Council.

There has also been a shift in the consumption of gold. According to Shivram, a lot of jewellers are now setting up shop in tier-II and tier-III towns. "Small towns have definitely benefited from the influx of the large retail brands," he said. Moreover, when it comes to gold purchase, it's not restricted to jewellery alone. The sale of gold coins is on the rise especially during Diwali and Akshaya Tritiya. "Many jewel retail brands are catering to the requirements of working women by designing light pieces," he said. Against the backdrop of this, the Gold Club of Chennai and the World Gold Council are partnering to host an India Gold Conclave (IGC) on 19th July. Around 250 delegates are expected to participate in this B2B event.

The IGC will bring together on a single platform key stockholders to discuss trends in the gold and the jewellery industry.

(c) 2008 The Times of India. Provided by ProQuest Information and Learning. All rights Reserved.