Gold was considered as an asset , a possession of pride, a symbol of wealth and a significant proactive fortune proforma .
All that glitters is not gold, goes the maxim. But now the price of gold is far more glimmering than the metal. Its value has been jacked up. Its high price tag has not deterred the investor from procuring it. Usually an escalation brings down the demand, But , this precious metal , though quoted dear has shown an overwhelming response.A paradoxical win win situation for the yellow metal.
As the stocks went cheap, as the economy underwent a chaotic fall, as the real estate tumbled, as the manufacturing industry protracted strain, as the oil crumbled from 145$ to 44$, the golden opportunity for gold rose high . It is acclaimed as a safe and secured bet by most investors. Hence the demand is so powerful that the metal keeps on rising in its intrinsic value.
Gold is now quoted in the range of 992$ . The observers ,feel strongly that it would cross the mark of 1000$ in a few days. The wedding season in India, which is the largest purchaser of gold, is in full blossom. The Indian mindset , has not changed . They still want to deck their daughters with gold , in more forms ,such as necklace , bangles, earrings, nose rings, bracelets and anklets. This cushioning effect has given a credibility to the price inflation of the metal.
There is an old adage, I am not sure of the exact words, that money invested in gold and land will never go astray, but get multiplied in geometric progression. Two years back , gold carried a price of 50$ or even less, now it is about to breach the 1000$ mark. A jump , which cannot be believed , but it is true as we are physically witnessing the frenzied range.
Meenas Poems 