Kolkata: Gold is the last hope! Gold has never betrayed the middle class. Be it a daughter’s wedding, or building a dream house. Be it a crisis, or a loan. Gold has always been trusted. In keeping with the rhythm of the modern era, small savings at the post office have become fixed deposits at banks. One-time mutual funds, or monthly SIPs.

After visiting all the investment shrines, the middle class is finally returning to its place of trust in the past—that is, the gold shrine.

Trade organizations, including the Chamber of Commerce and the Ministry of Finance, have all received reports that no matter how valuable gold becomes, the middle class is still the largest buyer. A survey by the Jewellery and Bullion Association says that 56 percent of buyers in the purchase of large gold are middle class. The number of such buyers who earn up to Rs 10 lakh annually is more. The interest rate on fixed deposits is low. So the middle class has turned to the stock market. Leaving the post office PPF or the recurring deposit of the bank, the middle class has entered SIP. That investment experience was quite encouraging for a few years. But since the Lok Sabha elections, the stock market has collapsed. Lakhs and crores of rupees have just flown away.

The biggest shock has come to the life of the middle class. And the proof of that is that SIP accounts are being closed in large numbers. Along with all these fluctuations and the tension of settlement, one and only gold has touched the sky. It was unimaginable even two years ago that the price of 10 grams of gold would ever cross 90 thousand rupees. But surveys show that the demand for gold is increasing instead of decreasing. And due to this, the price is also increasing. On Monday, Kolkata set a record again in the price of gold and silver. On Monday, the price of 10 grams of 24-carat purity retail gold in the city crossed the 88 thousand mark for the first time and reached 88 thousand 350 rupees. The price of 10 grams of gold jewelry, i.e. 22-carat gold, has reached 84,000 taka today. Also, for the first time, the price of silver in Kolkata has crossed the one lakh taka mark.