India, March 26 -- In times of war, or other disruptive crises such as pandemics, trade wars, tariff tensions, and geopolitical uncertainty, gold is a trustworthy investment to hedge against negative possibilities. But gold has behaved unevenly, with great volatility, in the past two weeks. It dipped considerably, and then showed a four per cent rise in a day. Even experts are divided about how the bullion prices will move over the next few days or weeks. The fact is that global gold prices are still down by a fifth from the peak in January 2026. As a news website questioned, "Can you still trust gold or. (is it) turning into a trap."

The entire narrative is now based on peace versus war. If peace initiatives take off, as America claims,...