Chidambaram: I appeal once again, do NOT buy gold

June 13, 2013 10:45

Finance minister P Chidambaram addressing the media on the falling rupee. He said a number of measures have been taken to spur growth and investment and tame inflation. There has also been significant growth in the economy in the last nine months. "But I have one thing to say, don't buy gold. Gold is not the safest investment. Every ounce of gold that we import, contributes to current account deficit. Remember, rupee fall is not unique. Currencies of Brazil and South Africa have also fallen. Authorities will ensure there is no volatility in the rupee," he said.

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