Gold 'a good investment for 2008'
Indian investors wondering whether they should continue buying gold this year might be interested to read that one expert believes the yellow metal is "a good investment" for 2008.
Speaking to CNBC-TV18, Rajini Panicker of Man Financial Commodities said that the outlook for the next 12 months is positive for gold prices in India, particularly when bullion is hedged against the dollar.
"We feel that there is further dollar weakness that can be expected and therefore gold should remain supported," he remarked.
Indeed, this could be seen as a good time of year to be investing in gold in India. According to the Press Trust of India, heavy demand for gold jewellery is currently being seen in the country as the traditional marriage season continues.
The news agency reported that some traders have experienced such strong demand locally that the effects of falls in overseas markets had no effect on the Indian gold sector.
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