Surging gold prices

The question is what really accounts for India's growing appetite for this precious metal?

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Gold is back in the spotlight as a hedge against heightened geopolitical uncertainties, with its price hitting all-time highs. Through the ages, gold has traditionally been a safe haven in times of trouble. But with the world economy being currently buffeted by adverse headwinds due to prospects of a trade war — thanks to US President Donald Trump's weaponisation of tariffs — stock markets are on the edge.

In this milieu, the allure of this precious metal is growing also as an avenue for profitable investments as its returns outpace equities and other asset classes. Gold's milestones include crossing $1,000 per troy ounce in March 2008 during the global financial crisis and hitting $2,000 in August 2020 during the Covid-19 pandemic. There has been a near tenfold rise in its price since 2000 that has clearly outperformed global stock indices.