Investment in gold goes up in city

INDORE: Yellow metal (gold) seems to be turning out to the safest mode of investment for investors across the globe. In a global market where real estate and fixed deposit rates are going down gold prices have stabilised and are set to go up in future. Investors in the city too are preferring gold over other modes.
Experts and market analysts too have stated that gold appears to be the best investment option as of now.
Talking to ToI, Ajay Anand, joint director of Punjabi Saraf said, "I do believe that unlike any other option of investment, g
Gold deposits have caught the fancy of investors in the city. Interestingly, more and more youth are coming forward to invest in gold. Presence of industries in the nearby areas like Pithampur and the arrival of IT biggies like TCS & Infosys will further give a boost to the sale of gold here."
Anand was speaking on the sidelines of announcement of National Jewellery Award (NJA) for the best single store of the year in central & east India that was bagged by his flagship store in Indore.
Gold was currently priced at Rs 28,000 per 10 gram, after touching a high of Rs 29,600 three months back. Meanwhile, for sometime, the price had even dipped to Rs 26,400.
"Since very few gold mines have been found in the recent past, experts expect prices of gold per 10 gram to cross Rs 55,000 in future," said Anand.
Gold is mostly imported from South Africa. Of late, China has started giving tough competition to India when it comes to gold sales, said Anand.