“Gold is unique because it has the age-old aspect of being viewed as a store of value.Nevertheless,it’s still a commodity and has no tangible value, and so I would say gold is a speculation.
But because of my fear about the potential debasing of paper money and about paper money not being a store of value,I want some exposure to gold.”-Seth Klarman
Jim Rogers said:
“Everybody should have some of their assets outside of their own country, whatever their own country is as an insurance policy if nothing else.“Everybody has life insurance, fire insurance, health insurance, car insurance, and you hope you never use your health insurance policy, you hope you lose money on it. Well that’s the same thing about having some of your assets outside your own country. You hope you never need it, but it is terribly good insurance. Because every country in world has had economic upheavals at one time or another.“Then everybody should have some real assets. [Held overseas] they are a very good safeguard. Whatever kind of safeguard you’ve got, whether it’s gold, silver, farmland, silos full of rice, everyone should have some kind of assets that will come through an economic upheaval.”-from Goldnews
Indians have been buying gold for eons as a form of insurance and a safeguard against economic upheavals.Also, it is the most practical way for an ordinary Indian to invest in an international asset.
Western “gurus” are realizing it only now.Now when will the Indian Govt. realize it?