14th India International Gold Convention on 11-13 Aug 2017 at Grand Hyatt, Goa. Concluded Successfully...
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Sergey Nenashev
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Editor's Voice
Surge in price of bitcoin in global market has created buzz here in India. A segment of investor community including media has started comparing bitcoin with gold as an alternate investment seeing its massive rise. Reserve Bank of India has made its point clear once again that it does not recognize bitcoin as a legal currency and cautioned ?any user, holder, investor, trader etc, dealing with Virtual Currencies will be doing so at their own risk?. It is certainly a matter of grave concern seeing the meteoric rise of its value in less than two weeks time. In our opinion gold is a dependable and time-tested asset class considering its intrinsic value, broad-based holding, transparent pricing and liquidity. Hence, the industry needs to educate the potential 'bitcoin' enthusiasts on these aspects.
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Quote from IIGC 2017

I must congratulate first Foretell for organizing such an excellent conference. As gold convention centres around gold, we find here every stakeholder like banks, refineries, bullion dealers, jewellers, intentional organizations like LBMA, DMCC, SBMA, WGC and many others. We have delegations from African countries. So when all are here, we can definitely say that since India is going through this transformation, we are standing up to become best in the world. We have established our leaderships in various sectors like space technology, and others. This is again one area where we can establish our leadership. Time will come when India will define everything related to gold because we are going to be the largest consumers of gold and we are going to be an industry where we have the largest capacity to do the handcrafting of jewellery from gold and therefore taking that into the account, if everybody comes together – if the bankers come together, various agencies working in the industry come together – I think synergy can definitely help us achieving a vision where we will be world leaders in this and we will be deciding the fate of gold and gold industry in the world.

- Shri Manoj Kumar Dwivedi, IAS

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