New Delhi, Feb. 23 -- The intraday price of gold hit an all-time high of $5,595 per troy ounce in late January, having nearly doubled within the span of a little over a year. On the same day, in rupee terms, gold of 24 Karat purity recorded a price of Rs.183,000 per 10 grams, having risen 134% over the same period thanks to the combined effect of its price gain and the rupee's depreciation. Silver, the metal's younger sibling, sparkled almost as much during the same period.

The sharp rise of gold and its moderate correction since has every investor asking what is going on. What next for this metal? Should one have had gold as a chunky part of one's investment portfolio? Have we missed the bus? These questions are from investors everywher...