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Friday, 23rd January 2009 (1081 views)

Gold investments have increased in recent months as investors look for more security in the current economic climate, it has been suggested.

"A decline in returns of other asset classes fuelled demand for gold, it being considered as a safe haven," Reuters reports brokerage Motilal Oswal as stating.

The comments follows news that watch and jewellery retailer Titan Industries is likely to post growth of around 40 per cent for the three months from October.

Titan operates jewellery retail chains Tanishq and Goldplus as well as five watch brands and eyewear chain Titan Eye+.

According to the Motilal Oswal, "jewellery sales have been robust during the Diwali season" and the strong performance of the Sonata watch product have contributed to a healthy results for the last quarter.

Such a strong trend may continue in the coming years as Morgan Stanley has predicted that gold prices could reach record highs in the next three years due to increasing demand and the declining US dollar.

 

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