According to a recent report by the World Gold Council (WGC), the demand in India surged 18 per cent (year-on-year_ to 248.3 tonnes in the September quarter due to a rise in jewellery consumption and investment in gold
New Delhi: As the prices of gold and silver continue to rise amid geo-political tensions, ace global investor Jim Rogers has an advice for people: stay invested in precious metals and nothing can teach us better about bullion than Indian women.
In an interaction with IANS on Thursday, Rogers, who is known for his expertise and strategic insights, said he owns both gold and silver.
“Everybody should own gold and silver. That is one thing I learned in India where women in the markets taught me a lot about gold and silver,” he quipped.
“If I were buying one today, I would buy silver because it’s cheaper. I hope I’m smart enough to buy more of both if they go down in price,” Rogers added.
According to a recent report by the World Gold Council (WGC), the demand in India surged 18 per cent (year-on-year_ to 248.3 tonnes in the September quarter due to a rise in jewellery consumption and investment in gold.
In terms of value, India’s gold demand during the quarter surged 52 per cent (on-year) to Rs 1.65 lakh crore compared with Rs 1.08 lakh crore in the same period last year. India’s demand for gold jewellery rose 10 per cent on year to 171.6 tonnes in the September quarter owing to weddings and the festive season.
On mutual funds (MFs), Rogers said if people know what they’re doing, everybody should invest in MFs “because it’s a way to have better prosperity”.
“But do not invest unless you know what you’re doing yourself. Don’t listen to other people. Only invest in what you know a lot about. But if you know a lot about something, you should find investments and have success,” the veteran global investor told IANS.
“I sold my investments in India too soon. I will invest more in India as the country has a brighter future,” said Rogers, the American millionaire based in Singapore.