Friday, 13th August 2004 (2550 views)

Indians have been urged to continue investing in gold since it could provide a safer investment than traditional equities and bonds.

According to the World Gold Council (WGC), India could become the regional gold trading hub if a number of changes were made, such as allowing the Futures Exchange to trade in the spot market, enabling banks and financial institutions to take part in the gold market and beginning bullion exports

Even when the stock market crashes or if the dollar weakens gold will continue to be a safe option.

To help promote the idea of gold as a reliable investment, the WGC has already made a number of recommendations to the government.

Among the ideas submitted to ministers were proposals to allow banks to offer gold-backed investment products, gold loans for local jewellers and the lowering of the customs duty on gold imports.

 

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