By Vivek Kaul – The Vivek Kaul Letter (India) –
I attended a friend’s wedding reception recently.
Word got around regarding what I do for a living and then suddenly people were interested.
After some talk about the Indian economy and where it is headed, someone popped the proverbial question: “But what about gold?”This is a question I end up getting asked at every public gathering where it is known what I do for a living.
What people basically want to know is if the price of gold will go up in the days to come or not.
The question is nowhere as simple as it sounds, and can be as complicated as answering, where do you think is the price of oil headed.
Indians have always owned gold, unlike the Westerners for whom it is a relatively recent phenomenon.
Nevertheless, only in the 2000s did it occur to us that gold can be a form of an investment as well, which could be bought and sold on a regular basis.
Before that we just bought gold and held on to it, only to sell it in case of an emergency.