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Monday, 1st June 2009 (1083 views)

Gold coins are becoming an increasingly popular form of investment in India, it has been observed.

The Calcutta Telegraph noted that the precious metal has always been a favourite in the country, but that interest has risen even more in recent months.

According to the news source, global demand was up nearly 400 per cent in the final quarter of last year, compared to the same period in 2007.

That has been reflected in India, where gold coins are replacing the traditional preference of jewellery.

One buyer was quoted as saying he was tempted to invest by the fact that large banks are now offering coins with certificates of authenticity, while the country's postal services department recently began a similar venture.

The paper stated that nearly 25,000 coins were bought by more than 10,000 investors within the first three months.

Over 50 gold coins, thought to be around 400 years old, are expected to fetch a total of £50,000 when they go up for auction in London this month.

 

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