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Gold council urges investing in gold

With crude prices hitting the roof and the stock market is diving, gold is emerging as a good hedge option against inflation. “It is the right time to invest in gold,” says K Shivram, vice-president of the World Gold Council.

There has also been a shift in the consumption of gold. According to Shivram, a lot of jewelers are now setting up shop in tier-II and tier-III towns. “Small towns have definitely benefited from the influx of the large retail brands,” he said. Moreover, when it comes to gold purchase, it's not restricted to jewelry alone. The sale of gold coins is on the rise. “Many jewel retail brands are catering to the requirements of working women by designing light pieces,” he said. Against the backdrop of this, the Gold Club of Chennai and the World Gold Council are partnering to host an India Gold Conclave (IGC) on July 19. Around 250 delegates are expected to participate. (The Times of India)