In times of economic anxiety, old is gold indeed
Deccan ChronicleThe other morning, I went to my neighbourhood bank locker looking for something to wear during the ongoing Ganesh Utsav. The bank was filled with people, and I didn’t sense much gloom and doom, even with the Sensex tanking, bouncing back and dancing uncertainly to some freaky disco beat. Timorously, I finally dared to ask, “Will the coming crash be worse than 2008…?” She shook her head forlornly, stared at her toes and said ominously, “Just hang on to what you have.” Oh dear! The visit to the bank locker definitely cheered me up as I congratulated myself on being smart four decades ago, by buying traditional Maharashtrian and Bengali gold jewellery, when all my friends were investing in rocks and stones. Then came the merger of PSU banks and we went, “Huh?” All sorts of strange policy decisions were announced, with our finance minister breezily explaining roll backs and what not.
History of this topic
'Sign of impending wars': Jittery investors hoard gold in fear of impending 'crisis'
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Indians offload gold heirlooms as coronavirus deepens financial pain
Hindustan Times
The gold chain that got away
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