Gold has always been considered a safe investment option, with countries and individuals trying their best to stock up on it. Today, given the unpredictability surrounding our economy, gold is perhaps the most sought after investment instrument, especially in the light of the recent Demonetization Policy implemented by the Government of India. While Indians are known for their love for gold, a large number of us do not view gold as a proper tool of investment, with a majority of us purchasing it as ornaments to hand down from generation to generation. This viewpoint, however, is changing, with people realizing the importance of gold as a tool in their investment portfolio.
Indians account for a huge portion of global gold consumption, but the country is still heavily dependent on imports to meet demands. Given this appetite for gold, the government is keen to provide an opportunity for those who wouldn’t be able to afford it otherwise. With gold prices linked to the market and the fact that rates have increased steadily over the last year, gold has become too expensive for most rural Indians, who have lost out on a great investment opportunity.
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