Analysing the allure of gold
It could be the best times for gold. Global currencies are rapidly losing their credibility and an economic slowdown threatens to make the future look bleak for the millennials. Trade wars exacerbate the situation. And collapsing banks on the one hand and the increasing pace of inflation both threaten to wash away the value of money saved for the old age or emergencies. In such times, gold regains the recognition as the ultimate haven and also becomes the biggest hedge against uncertainty.
On the other hand, at least in India, current policies make gold more lucrative for smugglers than for the common people.
Yet, the abiding faith the common folk repose in gold makes them purchase this yellow metal whenever there is surplus cash available. It is to discuss the prospects that gold has for most people that the Free Press Journal (FPJ) and the Bombay Stock Exchange (BSE) decided to work together to hold a conference on Tuesday on the subject.
After a keynote address by PR Somasundaram, Managing Director, World Gold Council, there will be two panels – one focusing on the way to develop gold markets in India and the second to discuss the underlying policies that could make the gold business healthier, more vibrant and economically sustainable for the people of this country.
As always, we bring together some of the best people from the sectors. The panel on Markets and Investment will have (in alphabetical order) Ketan Kothari, Director, Augmont; Ranjit Singh, Products and Business Development, BSE; Keyur Shah, CEO-Precious Metals Business, Muthoot Pappachan Group; and Kunal Shah, Head of Research, Nirmal Bang Commodities.
The panel on gold policy will have (again in alphabetical order) Sanjiv Arole, Gold columnist; Surendra Mehta, National Secretary, India Bullion & Jewellers’ Association (IBJA); Sudheesh Nambiath, Head, India Gold Policy Centre (IGPC) of the Indian Institute of ManagementAhmedabad (IIM-A); PR Somasundaram, MD, World Gold Council India; Madan Sabnavis, Chief Economist, CARE Ratings Ltd; Sabyasachi Ray, ED, GJEPC and Bhargava Vaidya, Bullion expert.
Figuring in between the two panels will be Hrishabh Sanghvi, founder, Arque Tech who will give a 10minute talk on algo-trading, which will be of relevance to gold as well as stock traders.
Watch this space for more, as there will be many such reports that will be published after the conference.