........Finally, gold has maintained value against inflation. In the last five years, as inflation climbed higher, fixed deposits or small savings schemes have not kept up, earning investors a negative real return. Equities, which are supposed to beat inflation, have proved a disappointment, too. To some extent, gold demand will dampen as the economy starts picking up, as investment opportunities open up and as inflation falls to reasonable levels. But there is bit of chicken and egg here: strong gold demand weakens rupee, weak rupee pushes up inflation which then causes another rush for gold.........
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