30
August
India's Gold ETF Assets May Soar 17-Fold on Refuge Demand, Executive Says
30 August 2010 Bloomberg.com
Gold held by exchange-traded funds in India, the world’s biggest buyer of bullion, may surge as much as 17 times in the next three years as investors seek a refuge from financial turmoil and inflation.
Assets may reach “100 tons to 200 metric tons” from 12 tons now, said Rajan Mehta, executive director of Benchmark Asset Management Co., which runs the nation’s first and biggest gold exchange-traded fund. “The growth will definitely be faster than what we have seen in the past.”
