Gold Shines in India

No matter what how recession has been affecting the entire world, but Indians are not ready to stop investing in Gold. Fondly called as the Yellow Metal, Gold has been shining in India irrespective of economic ups and downs. As per the Indian culture, Indians favorite metal Gold is a part of their tradition and culture. There are hymns in Vedas about Gold to support this statement. Fortunately, the current world economic system also supports Gold as one of the potential investments. In India, almost all the Gopurams of rich temples (temples that attract huge donations!) are covered in Gold. As India had been a rich country, she has attracted so many wars from foreign countries until the British finally captured and taken away almost all the precious diamonds, pearls, gold ornaments, etc, of hers. Although the barbaric foreign marauders who had plundered India and taken away her wealth, Indians still think, respect, and look at Gold as Goddess Laxmi. There are national wide auspicious days like Akshaya Thritiya, where people all over the country celebrate the day by buying at least a gram of gold.

Table: Gold Prices During the Last Decade

Year	Price per 10 gms in INR
1999	3850
2001	4106
2006	8791
2008	12147
2009	14180

Coming to the economic aspects of Gold in these inflation/deflation days, as an investment, Gold has yielded an annual average return of 26% during the past decade. The preceding table displays all the crucial turning points in the price of Gold during the past decade. One can see that 10 gms Gold which was worth Rs. 3850/- in 1999 is now priced at Rs. 14180/-. That is the power of Gold as an investment.