posted on Dec, 29 2010 @ 03:28 AM
Gold coins in India are sold like hot cakes
December 27, 2010
MUMBAI (Commodity Online): Cash in on the gold glitters seems to be the mantra in India now a days. From large corporate house, state run banks, post
offices to small time entrepreneur – everyone has one eye on Gold and the other on the huge volumes it is generating now a days.
After the stupendous success of Gold coins through Post Offices and the State Bank of India branches, Reliance Money, the investment and broking arm
of Anil Ambani group, has now come out with flying colours in its Gold coin sales.
It has so far sold 1000 kg of gold coin so far and in the next four months, it will reach 2000 kgs, sources in Reliance Money reveals.
Most of the gold coins that Reliance Money has sold from its own outlets were in the form of gifts whereas the Post Office sales were more or less
rural or semi urban areas for individual investment purpose.
The public sector SBI has continuously failed in its attempt to reach out to the customers in its sales as the information dissemination it should
have generated is slow and not user friendly.
Most of the gold coins in India are in the range of .5 gram, 1, 5 and 20 grams denominations. Reliance had earlier joined with Indian Post for
leveraging the reach of post office across the country.