The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 20th November 2009 (2648 views)

More Indian people are investing in gold coins than gold jewellery.

Aditya Sinha commented to the NDTV Profit India Business news channel that customer preferences in terms of buying gold are changing.

While buying jewellery used to be considered as the best option for investment in the precious metal, there has now been a shift towards consumers preferring to purchase gold coins or gold bars.

Mr Sinha said that the fact that gold coins do not attract charges makes them more popular and attractive to the consumer.

India is currently the largest consumer of gold in the world, utilising around 700 tonnes per year.

The output of gold coins produced by the UK's Royal Mint has more than quadrupled in the year's third quarter.

Similarly, Bloomberg News reported that the number of American Eagle gold coins produced by the US Mint has also more than doubled in the first nine months of the year.

 

« Back to Gold News stories