Monday, 13 May 2013

Akshay Tritiya: Should you invest in gold?

This Akshaya Tritiya, HNIs look to quant-plate gold

High net worth individuals (HNIs) are eyeing the yellow metal like they have done every year on this auspicious day. But this time, they are trying to protect their bets in the volatile gold market, where the upward move can no longer be taken for granted, with some quantitative tools. Akshaya Tritiya, the auspicious day in the Indian calendar, that has been turned into a gold shopping day by marketers during the gold rally years, falls tomorrow.

Some investment houses and wealth managers have floated gold-based designer products to suit the new-found volatility in the yellow metal. These products seek to capture the upside in the choppy gold market, while seeking to stay out of the fall. Till last year, buying gold was a blind call as the multi-year rally still had legs. Not anymore.

“Once the quant indicators signal a fall in prices, our managers liquidate their bets on gold and go 100 per cent liquid," says Vikaas Sachdeva, chief executive officer, Edelweiss Asset Management, which is marketing one such scheme for its portfolio management schemes (PMS) customers. He says the scheme takes the emotion out of investment in gold. “Indians often find it difficult to sell gold. We do it for them."

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