gold

Gold purchase undeterred by price rise
Thiruvananthapuram: Whoever thought women can't live without jewellery. Now, they have found a way to not just indulge in buying what they love most but also try out the wisest of investment tricks. Confused?

Well then meet Archana, an entrepreneur from Thiruvananthapuram, who believes gold is the safest investment option as its price keeps climbing steadily with every passing day. Unlike many of her peers, she is buying gold coins and not ornaments.

"When I buy gold, there would be labour charges for the design. So at a later stage, when I want to exchange it, I lose that amount. Since I want to avoid that, I'd like to invest in gold biscuits and coins."

The price of gold crossed the highest ever mark of 20,000 rupees for 10 grams this week. But the rise in price of the precious yellow metal did not deter customers and this festive season the buying spree continues.


Statistics too show the trend of buying gold biscuits and coins, rather than ornaments, is slowly catching up. According to the World Gold Council investment in gold saw a rise of 7 per cent in India in the second quarter ending June. And the numbers soar during the festive season.

"Lots of people are buying gold as an investment. Earlier, gold was never in your investment portfolio but now at least 10-20% people are investing in gold," said Suhas MS a member of the All-Kerala Gold and Silver Merchants Association.

Even though, gold ornaments still hold a timeless allure for women, the new generation seems to have grown over its obsession with jewellery and are concentrating more on investment.
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