Urban India hesitant to invest in gold: World Gold Council

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Wed, Oct 15, 2008
Gold Market News
Post by Melissa Pistilli, Gold Senior Reporter

The Economic Times of India reports with the global crisis in the financial markets, gold buying spirit has been pretty slow despite the festivities in the coming week.

“In the current financial crisis in the global market, semi-urban and rural India are going ahead with gold buying, while in urban centres, they are adopting a wait and watch policy,” World Gold Council (WGC) Managing Director Ajay Mitra said on the sidelines of the launch of India Post’s retail sale of gold coins here.

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