SOURCE : NEW18 NEWS
Last Updated:April 22, 2025, 19:15 IST
Gold has gained nearly 59 per cent since March 2024. Experts say the rise is due to a weak dollar, inflation worries and growing global tensions.
India is the second-largest gold market after China.
Gold prices in India have touched a historic high. On Tuesday, the price of 24-carat gold hit Rs 1 lakh per 10 grams in Mumbai. The 22-carat gold followed closely at Rs 91,600. As gold rates soar, many are praising the age-old wisdom of Indian homemakers. Business tycoon Harsh Goenka has shared his two cents in a post on X. “Indian women didn’t hoard gold. They quietly built the country’s most consistent investment portfolio,” he wrote.
Goenka added that while men ran after stocks and startups, Indian grandmothers opened their lockers and beat the market.
related stories
Indian women didn’t hoard gold. They quietly built the country’s most consistent investment portfolio.While men chased stocks, startups, and the latest trends,Dadi opened her locker, beat the market — and reminded us of the innate wisdom that sparkles brighter than gold itself.— Harsh Goenka (@hvgoenka) April 22, 2025
Veteran banker Uday Kotak also praised Indian women. “The Indian housewife is the smartest fund manager in the world,” he posted. His comment highlights how gold has always been a key part of Indian homes and wealth planning.
The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world. Governments, central banks, economists, who support pump priming, high deficit funding, may need to take a leaf from India, a net importer of store of value forever!— Uday Kotak (@udaykotak) April 22, 2025
The gold price surge is not just in India. Global prices touched $3,486.85 (Rs 2,96,943) per troy ounce. This happened as investors reacted to US President Donald Trump’s comments on the Federal Reserve. Trump’s threat to overhaul the Fed and remove its head shook investor confidence. As a result, the US dollar fell to its lowest point since 2022.
Gold has gained nearly 59 per cent since March 2024. Experts say the rise is due to a weak dollar, inflation worries, and growing global tensions. Central banks, especially in China, are also buying more gold. This has pushed prices even higher.
India is the second-largest gold market after China. In 2024, demand rose to 802.8 tonnes, up from 761 tonnes in 2023. In value, gold consumption grew 31 per cent to Rs 5.15 lakh crore, says the World Gold Council.
In India, gold is not just jewellery. It’s often used to get loans during tough times. Families pledge gold to pay for education or medical costs. Experts say demand for gold loans is rising. Fintech platforms and digital lenders are making these loans easier to get, even in smaller towns.
Indian women’s quiet, steady investment in gold is now seen as smart and reliable. As prices hit new highs, their wisdom shines brighter than ever.
- Location :
Delhi, India, India
