Friday, March 11, 2011

Indian Gold Fund Investment Taking Off

As explained in a Commodity Online article, Indian investment in gold funds is booming.
This is evident fom the Rs 4000 cr [40 trillion rupees] generated by the country's first gold savings fund, Reliance Gold fund which opened for subscription on February 14 and closed on February 28. According to analysts this a record for any new fund offer (NFO).The fund house recieved over two lakh [200,000] applications in such a short period of time....
The runner of the fund is interviewed here.

Evidently, Indian buyers have an apprtite for gold that seems almost insatiable. Since Indian inflation is much higher than inflation is here, the country's prosperity has made for a virtuous circle for gold demand.

No comments:

Post a Comment