RPG Enterprises’ Chairman Harsh Goenka on Wednesday, April 23, in contrast shopping for gold in opposition to spending cash on different depreciating property like a automotive, a cellphone, or a trip, in line with a social media publish on X.
Sharing an instance from his private life, Goenka talked about how 10 years in the past he purchased a automotive value ₹8 lakh, and on the identical time, his spouse purchased ₹8 lakh value of gold. Now, the automotive’s worth has depreciated over time to ₹1.5 lakh, in comparison with his spouse’s gold, which is value ₹32 lakh.
“10 yrs in the past, I purchased a automotive for ₹8 lakh. She purchased gold for ₹8 lakh. At present- automotive’s value ₹1.5 lakh. Her gold? ₹32 lakh,” stated Harsh Goenka in his publish.
‘Let’s skip gold’
Goenka additionally talked about how he urged his spouse to go for a trip, as an alternative of shopping for gold value the identical worth. His spouse, Mala Goenka, responded {that a} trip will solely final momentarily, in comparison with gold, which creates generational wealth.
“I stated, Let’s skip gold, go on a trip? She stated, Trip lasts 5 days. Gold lasts 5 generations,” stated Goenka in his publish on X.
Sharing one other incident when the RPG Enterprises Chairman ended up shopping for a cellphone for ₹1 lakh, in comparison with his spouse shopping for gold. The worth of the digital machine as dropped to ₹8,000 in comparison with the gold at ₹2 lakh.
“Ethical: Wives are smarter,” stated Harsh Goenka in his publish on X.
Gold Costs
The dear yellow metallic crashed on Wednesday’s futures commodity market session on the Multi Commodity Alternate after a back-to-back session of positive aspects.
The Gold Futures for the June 2025 contract had been buying and selling 2.22 per cent or ₹2,162 decrease at ₹95,178 per 10 grams as of 10:34 p.m. (IST), in comparison with ₹97,340 per 10 grams on the earlier market session.
Gold Costs Outlook
Jateen Trivedi, VP Analysis Analyst of Commodity and Foreign money, LKP Securities, stated that the MCX gold is witnessing a pointy weak point, which alerts a short-term development reversal from its all-time highs. April stays extremely unstable for the valuable yellow metallic, and the futures are anticipated to vary inside ₹94,000 to ₹98,000, amid excessive volatility.
“Gold costs witnessed sharp weak point, declining by ₹1,500 to settle at ₹95,800 on MCX, after hitting an intraday low of ₹94,950. This marks a steep sell-off of almost ₹2,500 since April third, signaling a attainable short-term reversal from latest peak highs,” he stated.
“The month of April stays extremely unstable, with technical charts displaying early indicators of development exhaustion. A rebound within the Greenback Index from 98.4 and feedback from Donald Trump hinting at potential tariff resolutions with India, Japan, and China have weighed on gold’s safe-haven premium. As tariff considerations ease, gold is seeing some premium unwinding,” stated the commodities knowledgeable.
“Wanting forward, gold is anticipated to commerce in a broad vary between ₹94,000 to ₹98,000, with elevated volatility more likely to persist. Merchants are suggested to take care of strict danger administration, particularly in such overstretched market situations,” stated Trivedi.
Disclaimer: The views and proposals given on this article are these of particular person analysts. These don’t symbolize the views of Mint. We advise traders to examine with licensed specialists earlier than making any funding choices.
