Gold prices are hitting lifetime highs and India Inc veterans have been hailing Indian homemakers for their wisdom in storing the yellow metal. In a post on X (formerly Twitter) industrialist Harsh Goenka lauded his wife’s gold investment strategy. This comes at a time when gold prices have crossed the Rs 1 lakh mark.
The RPG group chairman took to X, and shared a conversation with his spouse. The post said, ”10 years ago, I bought a car for ₹8 lakh. She bought gold for ₹8 lakh. Today, the car is worth ₹1.5 lakh. Her gold is worth ₹32 lakh.”
He further added that wives are smarter.
Sharing another conversation, he wrote on X, “I said, ‘Let’s skip gold and go on a vacation?’ She replied, ‘Vacation lasts 5 days. Gold lasts 5 generations.’ I bought a phone for ₹1 lakh. She bought gold. Now, the phone’s worth ₹8,000. Her gold is ₹2 lakh.”
Raj Nayak, an influencer, commented on Goenka’s post, saying,”Gold may last generations. But we don’t.That five day vacation? It turns into stories, smiles, and moments that lights up your soul for a lifetime.The phone might be worth ₹8K now, but that late night call to your son, daughter, or mother… that photo you clicked by the ocean… that memory? Priceless.You can buy what appreciates in value, or you can invest in what makes you feel alive.”
A few days ago Uday Kotak, Founder & Director, Kotak Mahindra Bank had also hailed Indian housewives as the ‘smartest fund managers’. “The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world. Governments, central banks, economists, who support pump priming, high deficit funding, may need to take a leaf from India, a net importer of store of value forever!,” he wrote on X.
Gold MCX futures have surpassed Rs 1 lakh, marking an unprecedented milestone. Gold continues to serve as a reliable investment during periods of market instability. The rise in gold prices is attributed to global economic uncertainties, growing tensions between China and the US, whilst a declining dollar has further strengthened this upward trend.
Market analysts suggest that current valuations reflect heightened geopolitical risks, influenced by US President Donald Trump’s trade policies and concerns about economic stagnation with inflation. These factors are expected to contribute to additional gains in gold prices.
Global central banks have consistently increased their gold acquisitions over multiple quarters, building their reserves to record levels. Notably, the RBI has been actively purchasing gold and relocating substantial amounts back to Indian territory.

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| Photo Credit: Getty Images/iStockphoto

Equity benchmark indices Sensex and Nifty declined in early trade on Thursday (April 23, 2025) amid profit-taking after a seven-day rally and muted trend in Asian markets.

The 30-share BSE benchmark declined 242.01 points to 79,874.48 in early trade. The NSE Nifty went down by 72.3 points to 24,256.65.

In the past seven trading days, the BSE benchmark gauge zoomed 6,269.34 points or 8.48% and the Nifty jumped 1,929.8 points or 8.61%.

From the Sensex firms, Eternal, Bharti Airtel, ICICI Bank, Mahindra & Mahindra, HCL Technologies, Reliance Industries, and HDFC Bank were among the laggards.

IndusInd Bank, Tech Mahindra, Nestle, Bajaj Finance, Axis Bank, and Tata Motors were among the gainers.

In Asian markets, South Korea’s Kospi index, Shanghai SSE Composite, and Hong Kong’s Hang Seng were trading lower while Tokyo’s Nikkei 225 quoted in the positive territory.

U.S. markets ended sharply higher on Wednesday (April 23, 2025). Nasdaq Composite jumped 2.50%, S&P 500 surged 1.67% and Dow Jones Industrial Average climbed 1.07 per cent.

Global oil benchmark Brent crude climbed 0.12% to $66.20 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹3,332.93 crore on Wednesday (April 23, 2025), according to exchange data.

The BSE benchmark jumped 520.90 points or 0.65% to settle at 80,116.49, the highest closing level since December 18, on Wednesday (April 23, 2025). The Nifty rallied 161.70 points or 0.67% to 24,328.95.

 The rupee depreciated 22 paise to 85.67 against the U.S. dollar in early trade on Thursday (April 24, 2025).
| Photo Credit: Reuters

The rupee depreciated 22 paise to 85.67 against the U.S. dollar in early trade on Thursday (April 24, 2025), weighed down by negative domestic equities amid significant geopolitical escalation that has injected fresh uncertainty into the regional risk perception.

Forex traders said heightened geopolitical tensions, following a terror attack in Pahalgam, Jammu & Kashmir weighed on market sentiment.

On the global front, the U.S. dollar index surged from its recent low of 97.92 to 99.94, marking a notable comeback driven by optimism around a potential de-escalation in US-China trade tensions, they added.

At the interbank foreign exchange, the domestic unit opened at 85.60 and fell to an intraday low of 85.67 against the greenback, registering a loss of 22 paise over its previous close.

On Wednesday, the rupee depreciated 26 paise and settled for the day at 85.45 against the U.S. dollar.

“Historical patterns suggest that such events initially trigger rupee depreciation due to risk aversion. During the 2016 Uri and 2019 Pulwama attacks, the rupee weakened initially but rebounded following decisive Indian responses, underscoring that investor confidence hinges on India’s strategic stance post-incident,” CR Forex Advisors MD Amit Pabari said.

India on Wednesday (April 23, 2025) downgraded diplomatic ties with Pakistan and announced a raft of measures, including expulsion of Pakistani military attaches, suspension of the Indus Water Treaty of 1960, and immediate shutting down of the Attari land-transit post in view of the cross-border links to the horrific Pahalgam terror attack that killed 26 civilians.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.17% at 99.67.

Brent crude, the global oil benchmark, rose 0.09% at $66.21 per barrel in futures trade.

“The near-term rupee outlook remains clouded by dollar strength and rising uncertainties. Technically, the rupee is likely to face support at the 85.20 level and resistance at the 85.50 level; a breach of the resistance could pave the way towards 85.80 levels,” Pabari said.

In the domestic equity market, the 30-share BSE Sensex slumped 281.71 points or 0.35% to 79,834.78, while the Nifty fell 77.70 points or 0.32% to 24,251.25.

Foreign institutional investors (FIIs) bought equities worth ₹3,332.93 crore on a net basis on Wednesday, according to exchange data.