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Anonymous 4
Hey I am on Medialย โขย 3m
That's very much true but one point which you missed to consider is that Indian own more of jwellery rather than gold for investments (gold coin, digital gold, sovereign gold bonds, etc). Thus even if the price shots up that much, Indian will not really sell that because that's what the Indian culture is. Indians only sell gold when that's the only option they have to make some cash. So while your theory is true, we shouldn't expect people to sell all their gold which will lead to over trillion dollars worth of extra cash. Maybe it will lead to about $100B in additional spending which is still huge.
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