Gold gives liquidity in bad times. The need of the hour is to spread awareness about the yellow metal's virtues--FPSB India & Outlook Money's Gold Roundtable
Among all asset classes, gold is the only one to have weathered the current rough and tumble of the global markets. Given its importance in the current scenario, the Financial Planning Standards Board India (FPSB), along with Outlook Money, organised an interactive session on ‘Gold as an Asset class for Investment’, in Mumbai on 21 October. The welcome address by Ranjeet S. Mudholkar, principal advisor, FPSB, set the ball rolling.
“Indians are yet to recognise gold as an alternate investment asset which works well in bad times,” said T.C. Nair, whole-time member, Sebi.
Marcus Grubb, managing director (investment research and marketing), World Gold Council (WGC) said, “Gold’s real value lies in the fact that it offers a sure and steady means of protecting wealth.” Ajay Bagga, chairman, FPSB, said, “Gold needs to be seen as a monetary asset for it to deliver the virtues of liquidity.”
Ajay Mitra, managing director, WGC India, said, “Gold remains the most universally accepted and time-tested asset class. Its value in terms of real goods and services that it can buy has remained remarkably stable.”
Mudholkar added that gold ETFs and gold mutual funds were an effort towards encouraging it as an investment class. Sudip Bandyopadhyay, CEO, Reliance Money said: “Better awareness will ensure that the culture of investing in gold gets better.”
The participants agreed that including the yellow metal in the portfolio would improve its overall performance. They said that there was a need to find solutions to augment the accessibility of gold products.
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