....In the global market, gold was holding at one-month high. In India, any rise in the rupee that will make imports of commodities such as gold, crude oil and vegetable oils cheaper and the steep rise in prices after the Government raised the import duty to six per cent from four per cent will come into play..........
Read - HBL
Will the RBI Dy Governor contradict this article which has come out clealy that investments in gold is to hedge against inflation. The economy today is in a precarious condition due to persisting inflation and without controllintg it nothing can be achieved. It has taken away the ethics ,values morale and social harmony in the society and given rise to aggressive pricing of goods and services by all including the govt thereby letting loose a semblance of anarchy in the management of the economy.Pre liberalisation conditions were much better and things were under control.Now the economy seems to have lost its focus and there is neither growth nor equitable distribution of wealth.The system of Governance has been missing every where and the economy is in a mess where the Gold is the only safe way of investment to protect what ever is left.Time the authorities both the RBI and the Govt sit togother and analyse the mistakes and come around to find a lasting solution to contain inflation.
- Dr.T.V.Gopalakrishnan
