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Thursday, 28th May 2009 (1157 views)

Traditions of investing in gold in India will ensure that it remains popular no matter what changes occur in the economy, it has been suggested.

Lalit Khanna, managing director at Escort Mutual Fund, told Russia Today that the precious metal is "entrenched" in society.

And gold dealer Satish Agarwal explained that in addition to the flexibility and financial advantages that are offered, gold is part of the Indian way of life.

"All Indian women are attracted by gold, whether rich or poor. Whether they can afford less or more, all women have gold and they are drawn to buy more," he was quoted as saying.

The news source added that gold is a "barometer" of financial health in the country, with Indians only ever parting with the precious metal as a measure of last resort.

Alan Demby, chairman of the South Africa Gold Coin Exchange, recently predicted that demand for the precious metal will remain high in the current economic climate.

 

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