Gold prices are hitting lifetime highs and India Inc veterans have been hailing Indian homemakers for their wisdom in storing the yellow metal. In a post on X (formerly Twitter) industrialist Harsh Goenka lauded his wife’s gold investment strategy. This comes at a time when gold prices have crossed the Rs 1 lakh mark.
The RPG group chairman took to X, and shared a conversation with his spouse. The post said, ”10 years ago, I bought a car for ₹8 lakh. She bought gold for ₹8 lakh. Today, the car is worth ₹1.5 lakh. Her gold is worth ₹32 lakh.”
He further added that wives are smarter.
Sharing another conversation, he wrote on X, “I said, ‘Let’s skip gold and go on a vacation?’ She replied, ‘Vacation lasts 5 days. Gold lasts 5 generations.’ I bought a phone for ₹1 lakh. She bought gold. Now, the phone’s worth ₹8,000. Her gold is ₹2 lakh.”
Raj Nayak, an influencer, commented on Goenka’s post, saying,”Gold may last generations. But we don’t.That five day vacation? It turns into stories, smiles, and moments that lights up your soul for a lifetime.The phone might be worth ₹8K now, but that late night call to your son, daughter, or mother… that photo you clicked by the ocean… that memory? Priceless.You can buy what appreciates in value, or you can invest in what makes you feel alive.”
A few days ago Uday Kotak, Founder & Director, Kotak Mahindra Bank had also hailed Indian housewives as the ‘smartest fund managers’. “The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world. Governments, central banks, economists, who support pump priming, high deficit funding, may need to take a leaf from India, a net importer of store of value forever!,” he wrote on X.
Gold MCX futures have surpassed Rs 1 lakh, marking an unprecedented milestone. Gold continues to serve as a reliable investment during periods of market instability. The rise in gold prices is attributed to global economic uncertainties, growing tensions between China and the US, whilst a declining dollar has further strengthened this upward trend.
Market analysts suggest that current valuations reflect heightened geopolitical risks, influenced by US President Donald Trump’s trade policies and concerns about economic stagnation with inflation. These factors are expected to contribute to additional gains in gold prices.
Global central banks have consistently increased their gold acquisitions over multiple quarters, building their reserves to record levels. Notably, the RBI has been actively purchasing gold and relocating substantial amounts back to Indian territory.
