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Monday, 11th May 2009 (1111 views)

Gold is "100 per cent safe" and has always been a secure form of investment, according to an expert.

Mangesh Gavankar, sales and marketing head for Emirates Gold at the Dubai Multi Commodities Centre, told Emirates Business 24/7 that "there is no depreciation in gold as the rates have a uniform international standard".

He added that customers should concentrate on the purchase of "certified gold bars from approved mints" or commemorative coins such as the Vision of Dubai gold issues.

Speaking to the same publication as part of a panel of specialists, Sujay Patil, a senior manager at HSBC Bank Middle East, explained that gold has been "valued as a global currency" for thousands of years, as well as an investment, a commodity and "an object of beauty".

In related news, the Royal Mint in the UK has increased its use of gold by 75 per cent over the first three months of 2009 compared with the same period of last year in order to meet growing demand for the precious metal.

 

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