Gold bars, coins turn popular in India

In a nation whose love for gold is legendary, financial adviser Biju Daniel is one of scores of Indians who are rethinking how they amass riches through the precious metal.

Daniel's wife owns at least a kilogram of jewellery and he sports a gold watch.

But he is also shrewd enough to realise that the world's biggest gold consumers are falling out of love with wearing their wealth, preferring to stock up on coins, bars and bullion-based investment funds as they look for returns safe from the ravages of inflation and the dictates of fashion.

"The current generation is not serious about gold. They have bangles but they don't wear them," Daniel, of Shreyas Investment Services, said in his basement office, after wrapping up an offer to clients of the SBI Gold Fund as an investment. "Look at college campuses, Indian girls there are not interested in gold jewellery. My wife has about one kilo of gold jewellery but my daughters are not interested."

Text: Jo Winterbottom, Reuters

Images: Reuters and AP