Gold prices touched 15,000 rupees in India for 10 grams and $950 abroad (for an ounce). GoldBEES, a Gold ETF I own, traded at 1500 on the NSE. This is a remarkable move, and now $1,000 an ounce (and Rs. 16,000) is close.
Supposedly its because of wedding season. How silly. It’s the same funda that took Oil to 147, Sensex to 21K and bonds to record prices – investors piling on. Time will tell if it’s real or not. For the time being, I’m sticking with it, like I’m sticking with bonds.
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