Commodity Online, MUMBAI: Gold is turning out to be the best form of investment asset for seasoned traders, financial planners and even house wives, according to a Gold Survey 2009 from the World Gold Council.

The WGC survey says gold has yielded an annual average return of 26% in the last decade.

The WGC study says the annual average gold price, in Indian rupees, has grown year on year. The first quarter of 2009 has also provided an impetus. Gold has provided a positive return of 17% when compared to the average annual price of Rs 12,147 for 2008. The average price for Q1 of 2009 was Rs 14,180. The first quarter of 2009 also witnessed the price of gold peaking to an all time high of Rs 15,780 per 10 gms on February 24, 2009.

Analysing gold’s sustained upward trend for a decade, World Gold Council MD Ajay Mitra said: “The Indian housewife has turned out to be the best fund manager. Gold jewellery has been treasured, sought after and popular since the beginning of Indian history. The presence of a safe asset like gold in an investment portfolio ensures assured returns, which further adds to its appeal.’
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The Gold Survey 2009 predicts that in the coming months, gold could easily re-attain the $1,000 mark, with an expectation of crossing the $1,100 barrier. If the current trend continues, Indian consumers could possibly witness a further appreciation of around 24%, adds the report

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