Wednesday, 9th May 2007 (4034 views)

A range of factors are currently conspiring to raise demand for gold biscuits in India in recent months, according to the Economic Times of India.

Demand has upped by 20 per cent in the Rajkot market in Saurashtra for gold biscuits as the availability to retail investors increases, the marriage season looms and the rupee rises against the dollar.

Speaking on the situation in India at present with regards to investment choices of the average person, Balwant Badani of Badani Jewellers told the Economic Times that many were choosing gold biscuits over more traditional products such as property or shares.

"Small investors are buying in significant volumes due to 100 per cent re-sale value and instant availability," commented Jayendra Ranpara, a Rajkot-based bullion trader.

Aside from biscuits, gold coins were also enjoying an increase in demand with those weighing between five and 50 grams proving popular with retail investors in India, according to Navin Shingal, head-investment and services of ICICI Bank.

At the end of last year, experts in India stated that gold biscuits had replaced jewellery as the ideal gift during the country's Diwali festival.

 

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