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India’s rich throng to gold

Posted on 08 October 2010

From Mineweb.co.za: It is a gold rush the likes of which the country has not witnessed in a long time. Fears of double dip recession in the US and the subsequent global fallout of such an event has caused high net-worth individuals in India thronging to precious metal counters.
“The way this class (read wealthy investors) responds to a fear situation is by buying bars and kilos of gold,” said A L Adjaniawala, precious metals analyst at KJMC Capital, a Mumbai-based research firm……………………………………….Full Article: Source


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