Gold lovers in Chennai see gold as a promising investment
November 7th, 2009 - 8:46 pm ICT by ANI ( Leave a comment )Chennai, Nov 7(ANI): At a time when gold prices have touched the sky, gold lovers in Chennai are seeing it as a promising investment.
Gold prices hit an all time high on Wednesday at Rs. 16,664 per 10 grams, but many view rise in the price of the yellow metal as an investment opportunity.
Customers say that although buying gold at such a time poses problem, but from an investment point of view, it is reasonable to put money in the metal.
“Inflation is certainly significant and noticeable. This poses problems, but also the opportunity to invest in gold as it is profitable and sustainable,” said Shabana, a customer.
While, Siva Kumar, a jeweler, said: “The price of the gold is rising uninterrupted and inflation is in fact induced by the Government which is preventing the devaluation of rupee by withholding the commodity. Owing to this development, investing in gold will be profitable in the long run. Perpetual demand for gold augments the price, giving inflation its continuity.” (ANI)
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Tags: commodity, continuity, devaluation, gold prices, inflation, investing in gold, investment gold, investment opportunity, jeweler, money, point of view, rupee, siva kumar, sky
