Gold enjoys a pre-eminent position in the Indian culture from ancient times. It was continually targeted by invaders for its prized gold treasures and was popularly known as “Sone ki Chiriya”
( a bird of gold).

After such a long association with Gold as a status symbol, a measure of wealth, currency and the famed jewelry, are the Indians going to give up their lust just because the massive Current Account Deficit (CAD) run up is proving a major strain on the economy. The answer is a big No.