Mark your dates for 12th India International Gold Convention on 21-23 August 2015 at Grand Hyatt Goa...
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Holding of estimated 20,000 tons of gold by Indian households often triggers a subject of discussion in media. Every year another 800 to 900 tons are added to the household reserve. Often question is being raised, why is this love of gold by people of this country? Gold does not deliver any yield. But, in last decade, investors rushed to buy gold in panic to counter the economic slowdown arising out in developed economy. Investors realized, if I quote Lord Meghnad Desai, a noted economist in London School of Economics, that “ if the financial assets like bond will give the negative yield, then, zero yield is better than negative yield.” Economists consider gold as consumer durable and store of wealth. IMF and economists are stating that global economy is heading towards secular stagnation which means, there will be slow or low growth to an extended period of time. Desai believes that “gold provides robust support to secular stagnation”. India’s love of gold is well justified.
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