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India continues to import gold in 2013
May 20, 2013

The government has been taking all possible steps to curb the import of gold. The Finance Minister even spoke of how gold is not as bright an investment as investors seem to think it is. Nevertheless, despite all the efforts, India's love for gold seems to be still strong. The measures have failed to curb the imports as well as the supply of gold in the country. The love affair with gold that we saw in 2012 has continued into 2013 as well. For the first quarter of the fiscal year 2013 (1QFY13), the net imports of gold stood at 215 tonnes while supply stood at 238 tonnes. Though this is lower than what we saw in the preceding quarter (4QFY12), still it continues to exhibit a positive trend. The yellow metal has seen prices come under pressure in recent times. But still its strengths as a safe haven and hedge against inflation continue to be strong. Therefore investors would do well to allocate at least 5% of their portfolios towards gold. For more information on how to allocate your overall exposure to equities please ensure that you broadly follow our suggested asset allocation.

Source: Financial Express

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