Gold News

More investors Buying Gold to 'diversify'

A growing number of investors are diversifying their portfolios by Buying Gold, it has been suggested.

According to one analyst, people are typically moving as much as 20 to 30 per cent of their assets into gold due to its safe-haven status.

Haresh Acharya, director of Ahmedabad-based metals wholesaler Parker Bullion Pvt, told Reuters that more wealthy investors are turning their attentions to the yellow metal.

He said: "The risks involved in the stock market and high inflation are making them allocate more to gold."

In India in particular, Gold Prices have been driven high as a result of inflation, enough to mean that demand for jewelry is beginning to recede.

This is hardly surprising, Benchmark Asset Management's director Rajan Mehta added to Reuters.

The Mumbai-based analyst said: "There is more and more realisation that this is an asset class that will give good returns."

Vinod Hayagriv, chairman of All India Gems and Jewellery Trade Federation, also expects Gold Prices to rise further in the future.

He said consumers would stock up ahead of the Akshay Tritiya holy day, with this demand likely to stabilise the value of Gold Bullion at current levels, or raise it further.

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