Comment: You're a gold fan so I'm sure

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You're a gold fan so I'm sure

You're a gold fan so I'm sure you'll find this interesting.

In India EVERYONE, from the richest to the poorest family who can afford it buy gold at diwali. It is usually in the form of jewellery or less commonly decorative pieces.

It is called 'Stri Dhan' or woman's wealth. It is collected and retained in the family for generations and kept as an emergency fund which is left untouched unless some contingency occurs.

It is also a tradition for the bride's family to give her some gold as a wedding present. As a country we are obsessed with gold.

But here is the thing. Right now there is plenty of money in the market but it is not flowing into gold. Almost everyone is investing in tech startups and other businesses, and for storage of wealth, land is becoming a very important vehicle despite the obvious drawbacks.

Of course this is just the view from where I'm standing, but even though gold is cheaper (the shopkeepers advertise this on their hoardings) people are not rushing in. I guess there are faster growing investments which may be as safe as or safer than gold and people are investing in people rather than metals.