Gold going to have safe haven appeal: V Anantha Nageswaran

V Anantha Nageswaran, Head-Investment Research, Bank Julius Baer, in a chat with ET Now talks about impact of Greek crisis on gold.

Yesterday we had Jim Rogers on the show and Rogers of course has been long Euro and now he has been regretting that position a little because it is beginning to hurt. But in terms of gold, do you think gold is going to have a safe haven appeal because of what's happening around us and that's going to remain...?

Yes, my answer is an unequivocal 'yes', it is and it is not just about this crisis. It is a fact that once the UK elections are over, even if today Conservatives win the elections and there is a heady rebound of the Sterling in the aftermath of that, that would be a rally to sell into.

At some stage, you are going to get countries like the UK and the US clambering for weak currencies and, therefore, we still have not seen the end of the beggar-thy-neighbour exchange rate policies that are still going to unfold. So in that sense, investors should have a neutral currency alternative globally and in India and, therefore, the safe haven role of gold in fact is just barely in its early stages right now.