
Yellow fever: Is it time to go for gold as stocks take a beating?
FirstpostUS President Donald Trump’s tariff war with Canada, Mexico and China and the existing geopolitical tensions continue to cause stocks to tumble and underperform. India’s gold run On Tuesday, March 4, gold prices extended their gains with MCX gold opening higher at Rs 85,399 per 10 grammes and reaching an intraday high of Rs 85,518. Gold prices extended their gains with MCX gold opening higher at Rs 85,399 per 10 grammes and reaching an intraday high of Rs 85,518. Representational image/Reuters ‘An asset with ascending importance’ Even Chief Economic Advisor V Anantha Nageswaran said that gold will continue to hold value both as a store of wealth and an essential asset for diversification. “Gold will remain relevant not only as a store of value but also as an ornament for cultural and religious purposes,” Nageswaran said, “It will also serve as a crucial mechanism for portfolio diversification until the world transitions to a more structured international monetary system.” He further added that “given that the fear of inflation is still there and the world is witnessing the after effects and the consequences of policy discretion that commenced in 1973, gold’s importance will continue to remain very salient and high.” His comments highlight the continuing importance of gold in protecting wealth amid economic instability.
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