74% investors prefer buying gold at current price: Survey 9 Jun 2009, 1159 hrs IST, PTI NEW DELHI: To everyone's surprise, about 74% of [COLOR=blue !important][COLOR=blue !important]investors[/COLOR][/COLOR] in India, the world's largest gold consumer, said they prefer purchasing gold and related products at current price levels, according to a survey. Currently, gold prices are hovering between Rs 14,700 per ten gram and Rs 15,100 per ten gram. Among those who were willing to buy gold at current prices, the preference for purchasing jewellery was higher as compared to any other form of gold, a survey by [COLOR=blue !important][COLOR=blue !important]brokerage [COLOR=blue !important]firm[/COLOR][/COLOR][/COLOR] India Infoline Ltd (IIFL) said. About 35% of investors showed interest to buy jewellery, 27% in gold Exchange Traded Funds (ETFs) and 12% in coins and bars, it said. Interestingly, around 60% of the respondents indicated that their purchase of gold bars and coins was for future conversion into jewellery, it added. "Even at the current relatively-high [COLOR=blue !important][COLOR=blue !important]gold [COLOR=blue !important]prices[/COLOR][/COLOR][/COLOR], interest in gold remains strong and the outlook for gold price is generally positive," said IIFL, which surveyed 167 cities in 23 states. The survey also highlighted the price trend for next six months. It said that 44% of investors foresee "gold prices in the next six months to be higher", whereas 24% of them said rates may come down.
Maybe I missed it but prefer it to what? Silver? Gold at higher prices? It is interesting to see how other parts of the world use the PM's.
