Listen to PM, Don't buy gold: Feroze Aziz

Added: 2026-05-17

[00:00:00]Finally, what would you like to tell the investor?

[00:00:03]Suri, >> I would say that listen to Modi G. Don't buy gold. Why would I say that? See, it's an asset. Why am I saying that?

[00:00:11]See, we have two crores, two crores of gold holding in Indian households. Equity, mutual funds, ETF put together is 48 lakh crores. And if we as an industry sell what sells, then how will we do right asset allocation?

[00:00:28]You have to look at asset allocation at a total balance sheet level not at what I get as a business right if India's asset allocation is two crores four times more in gold I am also saying may not be right to my mind if you have enough gold and other forms please don't use mutual funds and force we have 50 70 billion of imports of gold which on a base of 2 crores uh is is 2 3% for one year if you don't buy two if you don't add add an asset allocation of 2 3% further in gold I don't think you will miss out too much especially at $4,800 $4,700 it was just about $1,800 in thousands of years it comes to $1800 and what happened in a in a year uh that you got a more than thousands of years of rally and you still you can avoid that is my point would it not make six 7% yes I think it can uh 8% but I think rupee is already depreciated enough to not buy foreign assets be it gold or foreign uh equity.