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Thursday, 22nd October 2009 (798 views)

Demand for gold as an investment vehicle will outstrip that for gold jewellery in India within the next few years, it has been predicted.

Speaking to Reuters, Indian Bullion Market Association president Anjani Sinha said that investment demand for the precious metal will overtake jewellery in two to three years due to buyers searching for ways of protecting their portfolios.

The expert predicted that Indian investment demand could rise by between 20 and 30 per cent over this period, noting that gold coin sales are currently higher than jewellery during the key festive period, which usually sees a spike in transactions involving the precious metal annually.

Rajesh Khosla, managing director of gold coin refiner MMTC PAMP, commented: "Investment demand is likely to surge as more and more people are looking to gold as an investment rather than as a fashion statement."

Indian consumers can currently buy gold coins through a variety of channels, including from certain post offices and banks.

 

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