New Delhi, Sept. 22 -- When the going gets tough, the tough get going. In the world of investments, gold is that tough guy. During the pandemic, the yellow metal surged, and since then, inflation fears, monetary tightening, geopolitical conflicts, and US policy uncertainty have kept its momentum strong.







In constant currency terms, gold has compounded at 17% annually since 2020, and nearly 20% in India due to rupee depreciation-outpacing the Nifty 50's 14% CAGR.

While some households have grown wealthier, gold retailers have not been as lucky. Even those with limited US exposure, like Kalyan Jewellers, are hit by policy uncertainty abroad as it fuels gold prices. The effect is multipronged. Let us explore this through the lens of K...