Wednesday, September 9, 2009

Gold Soars

Ma asked me today morning if we had enough jewellery stashed away for my daughter’s wedding. I was very perturbed. She is 17. Does she have a boy friend? What does my Ma know? It appears that she is very concerned about the price of Gold.

Why is the price of gold so very high today? 74 per cent of the demand for gold is from the jewellery sector. People do not have jobs and if the glossies are to be believed men are trying to learn non materialistic ways of being romantic with their women. I admit the metro sexual man of today has started wearing bling but surely that cannot be a major component to an increase in demand. Are more people getting married?

My driver is very upset. He had asked me to accompany him to buy a mangal sutra for his wife and I had refused. Now it’s too expensive. When will men understand the cardinal rule that one should never take another woman to choose jewellery for one’s wife?

Apparently people and banks are investing in gold because they feel it’s the safest investment in these troubled times. It’s like one day we wake up and the Governor of the world’s treasury is our neighborhood lalaji.

I explain to Ma that we are not sure if the daughter has a propensity towards gold. After all she is the genetic combination of a mother who had to be weaned from Barbie dolls and a father who loves calculus. She may even marry a person from a country where they prefer pearls or the claws of a leopard to decorate oneself. By the time she makes her choices the nature of adornment may change because demand alters supply.

If only I had ignored all my Finance training and invested my money in gold instead of tax free bonds – I would have been both richer and prettier by far!

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