Mumbai: It could be the best of times for gold. Global currencies are rapidly losing credibility. Economic slowdown threatens to make the future appear 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 old age or emergencies. At such times, gold regains respect as the ultimate haven. It becomes the biggest hedge against uncertainty.
On the other hand, at least in India, current policies make gold more lucrative for smugglers than for common people. Yet, the abiding faith common folk repose in gold makes them purchase this yellow metal whenever there is surplus cash available. It is to discuss the allure that gold has for most people that Free Press Journal (FPJ) and Bombay Stock Exchange (BSE) decided to work together to hold a conference on this subject. The conference will be held on November 5.
After a keynote address by PR Somasundaram, managing director, World Gold Council, we will have two panels – one focusing on the way to develop gold markets in India, and the second to discuss the underlying policies which 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 of people. 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 Management- Ahmedabad (IIM-A); Somasundaram PR, MD, World Gold Council India; Madan Sabnavis, Chief Economist, CARE Ratings Ltd; Sabyasachi Ray, ED, GJEPC; and Bhargava Vaidya, Bullion Expert.
Sandwiched in between the two panels will be Hrishabh Sanghvi, founder, Arque Tech who will give a 10-minute talk on algo-trading – which will be of relevance to gold as well as stock traders.
Watch the space for more, as there will be many such reports that will be published after the conference.