Gold: going, going, gone?Would gold go beyond the reach of even the upper middle-class? And would it soon touch Rs5000 per gram, as predicted by those in the jewellery business?
We gifted a small bracelet to our daughter on her birthday. Cost? Rs.53,000/-. The wastage was estimated at 12 percent and one gram was quoted at 4107/-. on Saturday. This price is simply atrocious and the reason given was once again the rising international price of gold.
Gold, it now seems, is going, going and gone. At these prices, what should the Govt do? Or should only market prices keep working?