Amid the rising surge in world gold costs, Uday Kotak, Founding father of Kotak Mahindra Financial institution, not too long ago shared a thought-provoking put up on social media platform X, crediting Indian housewives for his or her long-standing belief in gold.
Uday Kotak praised Indian housewives as prime fund managers for trusting gold.(MINT_PRINT)
The 66-year-old billionaire remarked, “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!”
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Try the put up right here:
Web reacts
Kotak’s put up has garnered over 19,000 views and sparked a variety of reactions from customers.
One person challenged the premise, stating, “She wasn’t managing a fund. She was hedging against one. The Indian housewife bought gold not for alpha but as insurance—against inflation, rupee volatility, and systemic risks. It worked, but not because she trusted markets, but because she didn’t.”
One other person supplied a humorous take, writing, “Forwarded your Tweet to my wife and got a decent meal after long!” The sentiment was echoed by many who recognised the deep-rooted cultural behavior of saving in gold.
A person mirrored on the generational knowledge handed down in Indian households: “Savings in any form is good. Indian mothers are our first finance teachers. Gold has been at the heart of middle-class savings. The commodity bull run has left them smiling, often saying: ‘Main na kehti thi, heera chhodo, gold khareedo. At least resale value to hai!’”
Some responses urged a balanced view, warning in opposition to oversimplifying the custom as monetary brilliance. “Let’s not romanticise luck as strategy. The Indian housewife’s instinct deserves respect—but so does financial literacy. We should celebrate both tradition and informed choices,” a person famous.
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One other shared a private contact: “My mother gives me weekly updates on gold prices. It’s not analysis per se, but a habit passed down for generations.”
Yet one more person summed it up with a nod to maternal foresight: “Moms always say, ‘Buy gold, its value always rises.’ We invested in equity. But yes, moms were right. Compare your CAGR with gold now.”
Gold, considered as a safe-haven in opposition to financial uncertainties, surpassed the $3,300 mark final Wednesday and continued its upward trajectory, crossing $3,400 on Monday, Reuters reported.
Uday Kotak’s web price
In line with Forbes, Uday Kotak’s web price stands at a staggering $16.2 billion.