Middle class families invest in gold as most reliable bet
Updated: Oct 22, 2014 01:55:40pm
New Delhi, Oct 22 (KNN) After the establishment of the new government, middle class families and white collar salary earning employees have invested in gold, which they consider as the most reliable and stable bet, said a survey report by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“Interestingly, while the jewellery remains an all-time favourite with women, a sizeable percentage of working women covered in the survey are fast moving to stock markets as well through mutual fund schemes like Systematic Investment Plans (SIP) etc.” it said.
As per the survey conducted on all corporate and government employees located in Ahmedabad, Bangalore, Chennai, Delhi-NCR, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai and Pune, nearly 72 per cent of the 1200 respondents said they preferred gold as an investing option. Over 62 per cent of the corporate employees in the survey preferred gold followed by shares and equities.
“The main reason for government and corporate employees to foray into equities is the easy availability of the advisory services of experts, reveal the respondents,” said the study.
ASSOCHAM Secretary General DS Rawat said these employees are now focusing on investing in gold and stock markets rather than in traditional channels of investment like post offices, fixed deposit and PPF promoted by the government.
Citing the rise in the demand for gold during festive and marriage seasons, Rawat said there is a huge rise of 450 per cent in gold imports in September which concerns policy makers while the government is considering import curbs again.
Though more or less of the PSU banks and other state owned gold importing firms have stopped promoting gold sale, the sale of gold ornaments, coins and bars have picked up. The yellow metal provides ready liquidity and continues to be treated as a safe haven against inflation, said the survey.
The jewellers have also launched media splash offering discounts and freebies while those marketing cars, real estate are also offering gold coins, pointed out the survey.
About 21 per cent of the employees said they still chose the traditional routes of investments as they assured them of safe returns, adds the survey. (KNN/ST)
“Interestingly, while the jewellery remains an all-time favourite with women, a sizeable percentage of working women covered in the survey are fast moving to stock markets as well through mutual fund schemes like Systematic Investment Plans (SIP) etc.” it said.
As per the survey conducted on all corporate and government employees located in Ahmedabad, Bangalore, Chennai, Delhi-NCR, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai and Pune, nearly 72 per cent of the 1200 respondents said they preferred gold as an investing option. Over 62 per cent of the corporate employees in the survey preferred gold followed by shares and equities.
“The main reason for government and corporate employees to foray into equities is the easy availability of the advisory services of experts, reveal the respondents,” said the study.
ASSOCHAM Secretary General DS Rawat said these employees are now focusing on investing in gold and stock markets rather than in traditional channels of investment like post offices, fixed deposit and PPF promoted by the government.
Citing the rise in the demand for gold during festive and marriage seasons, Rawat said there is a huge rise of 450 per cent in gold imports in September which concerns policy makers while the government is considering import curbs again.
Though more or less of the PSU banks and other state owned gold importing firms have stopped promoting gold sale, the sale of gold ornaments, coins and bars have picked up. The yellow metal provides ready liquidity and continues to be treated as a safe haven against inflation, said the survey.
The jewellers have also launched media splash offering discounts and freebies while those marketing cars, real estate are also offering gold coins, pointed out the survey.
About 21 per cent of the employees said they still chose the traditional routes of investments as they assured them of safe returns, adds the survey. (KNN/ST)
Loading...
