Gold News

Gold 'a very good investment'

Gold experts in India have backed gold as an excellent investment, despite recent consolidation in prices, it has been reported.

According to the Economic Times, analysts have cited the Akshaya Tritiya festival and its resulting demand, as well as the current volatile global economy, as reasons for investment in gold to increase in the coming months.

In addition, it has been underlined that purchases could greatly increase in value due to a decrease in global supply of the precious metal.

Vivek Kanwar of the ICICI Bank said that he has a bullish viewpoint on the status of gold for this year.

"We expect a 40 per cent increase in our sale of gold compared to last year, wherein we sold 600 kgs of gold during [Akshaya Tritiya]. We think, personally, that gold is a very good investment in these inflationary times," he said, according to the Economic Times.

Akshaya Tritiya is one of the four most auspicious days of the year for Hindus and is believed to bring good luck and success. It is particularly considered auspicious for buying long term assets like gold and silver.

Looking to Buy Gold today? For direct access to live Gold Market prices – and to save up to 80% compared with coin dealers' fees – click through to BullionVault now...



BullionVault-cube-18581577-ADNFCR

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals