In the opinion of the World Gold Council (WCG) Vice-President, K Shivaram, gold is one of the safest ways to secure savings, more so in the current murky economic scenario. Gold is ideally the best investment alternative because, the equity market crash notwithstanding, it still managed to give over 28 percent returns of late!

Noting that the value of gold has never plunged to unexpected lows, Shivaram said that the recent slump in gold prices is transitory. He expects the gold prices to soar as its supply from the mines is dropping, and countries like China and Russia are adding to their quantum of gold reserves.

Shivaram said that following a decision taken at the G-20 summit, gold rates had plummeted in accordance with the move by some countries to put up for sale one-eighth of the gold holdings of the International Monetary Fund, in order to shore up economies.

Saying that India needs to increase its investments in gold, Shivaram made a mention of the forthcoming 'Akshaya Tritiya festival. He said the festival has provided the requisite impulse to retailers, especially during the last almost eight years.

Shivaram said that since 2001, WGC has been underlining "the importance of the festival across all outlets to encourage people to buy gold," and has also initiated promotional strategies coinciding with the festival.