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Moneycontrol.com >> Message Board >> View Messages >> Commodities & Currencies
   You are here :     Moneycontrol     MMB    Market View      Commodities & Currencies                         Most active discussions of 2006 , 2007 & 2008
Yellow Metal (1)   23-Jul-08 12:47Tracked by (0)  
Posted by:   zoombusiness on ( 23-Jul-08 12:47 )
The rising price of gold and choosy consumers have led to a bold shift in marketing strategy by the World Gold Council. Doing away with the three-year-old 'Speak Gold' campaign, which worked wonders for the firm and which led to an increase in sales despite the yellow metal's high price, the council has settled on a new 'Only Gold' platform.

The new creative will distinguish gold's allure and connection with Indian culture and will draw on the unique history and tradition surrounding gold. Gold prices have reached within a striking distance of four-month high at $966.60 per ounce triggered by US credit worries and a weak dollar. This is a crucial time for investors to look at gold again because it has been found that historically investing in June and July has provided the best returns for gold investors, according to Quantum Gold Fund.

In a communiqué to investors , the fund said that international gold prices have risen by 11% for the six month period ended June 30, 2008 while in the same period gold prices in India have risen by 21.2% on account of the depreciating rupee.

Moreover, in an analysis of prices of gold in June, July months since 2002, the fund said that purchasing gold at or near the average prices for that year in these two months could provide positive returns for investment in the same year.

In that respect, the council has decided that its time for a change. Making its way to India, the 'Only Gold' platform was previously launched in the key gold jewellery markets of the US, China, Italy and Middle East. It is a $100 million collaboration between the World Gold Council and its retail and manufacturing partners.

"The advertising creative will focus on how gold enhances our lives and combines an emotional rationale for buying gold with an inspirational product message, highlighting specific pieces and where they can be purchased," says Madhumita Dutta, head of marketing and development, WGC. "It will serve as an umbrella for all messaging on gold and will employ a series of 'gold truths'." toi and et-

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