India loves gold
(PresseBox) - The World Gold Council has been looking at India and its push for gold.
Gold is very popular among Indians. The country is one of the largest gold bullion and coin markets, ranking second in the world. Private gold ownership in India is about $1.4 trillion, or about 25,000 tons. The government is striving to attract gold into the economy. This would reduce the need for gold imports and thus strengthen the current account deficit.
The Indian government is planning an India International Bullion Exchange to monetize domestic gold holdings. But at festivals and weddings, gold is strongly in the public eye, especially among the rural population, for whom gold is considered the best investment, a cultural asset. Today's geopolitical uncertainties and squabbles are also pushing Indians toward gold as a safe haven.
In India, there are gold-backed financial instruments such as gold savings funds and new products are entering the market. Often there is a lack of access to financial and investment products, this moves especially the rural population to buy gold. Especially low- and middle-income groups like to buy. Gold is considered a hedge against inflation and is purchased in case of liabilities, such as for short-term needs, i.e., gold as collateral for loans.
Thus, gold has many functions in India. Gold has proven to be a very good investment vehicle and those who trust in gold like Indians do, but are not afraid of a certain risk, should look at gold companies as an investment like OceanaGold or Tudor Gold.
OceanaGold - https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ - owns gold mines in the USA, New Zealand and the Philippines and is a successful gold producer.
Tudor Gold - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - has a major diamond drilling program underway at the Treaty Creek Gold Project in British Columbia. The property is one of the largest discoveries of the past 30 years.
Current corporate information and press releases from OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
Unternehmensinformation / Kurzprofil:
Datum: 19.07.2023 - 07:47 Uhr
Sprache: Deutsch
News-ID 687822
Anzahl Zeichen: 3794
contact information:
Contact person: Jörg Schulte
Town:
Herisau
Phone: +49 (2983) 974041
Kategorie:
Financial Services & Insurance
Diese Pressemitteilung wurde bisher 140 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"India loves gold"
steht unter der journalistisch-redaktionellen Verantwortung von
Swiss Resource Capital AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
