South Africa for bigger share of its diamonds

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Post By : Botswana Gazette On 26 September 2005 12:00 AM
Indias Multi Commodity Exchange (MCX) has experienced a record turnover and volume of gold.%%On September 22nd the MCX saw the trading of 32,867kg of gold, valued at Rs 2,208 crore (single side).$$ India is traditionally one of the worlds largest consumers of gold, a commodity preferred as a store of value and safe investment in the country.$$ Commenting on the state of the gold market, Jignesh Shah, managing director and chief executive officer of MCX , said: "Portfolios that are primarily in traditional financial assets such as stocks, bonds and mutual funds are looking at adding gold as it combines its intrinsic strength as a store of value to the opportunities of a new asset class.$$ "This will also lead to well-diversified portfolios with lesser risk," he told The Financial Express.$$ Gold prices are currently at a 17-year high globally, and an all time high in India.

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