Gold News

Gold Investment to rise due to gold paper

Gold Investment interest could be set for an upturn as the World Gold Council (WGC) gears up for the introduction of gold traded on paper.

The launch of paper gold in India could see both an increase in the levels of Gold Investment on the subcontinent as well as globally.

It is understood the WGC decided on India as the best option for the launch of the paper gold as a result of the recent success of gold coin sales in the country.

Furthermore, India is one of the world's largest consumers and importers of the precious metal.

Ajay Mitra, WGC India managing director, revealed people wishing to Buy Gold in its newest form could do so in just a few months' time.

He said: "We hope to launch newer paper gold – gold traded on paper in India by June this year in India. The paper gold will be stored by a custodian, whoever is channelising that venture."

People considering Investing in Gold received a further boost recently with the news that Gold Prices had climbed against a continued weakness of the US dollar.

The yellow metal is now valued at $1,133 per ounce.

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