Gold pledge rate in BOLD hangs in front of this branch at Kumarapuram. It’s hard to miss this banner, where the rates tend to invite people to mortgage their gold in this branch. One thing I have noticed is the steady rice of gold price and the higher value for each gram of gold.

The price increase of gold will be good news for those who posses gold or those who are pledging gold. I fall into the second category of beneficiary.

Bull Run on Gold PRices

There must be some reason why gold prices are going on the up-tick. Who knows? Probably, it’s the corona virus effect or it could be the demand by black-money hoarders in India who find this as the best way to store extra cash.

There’s a section of people who will find this gold price surge very painful. They are the parents who have to buy gold as dowry for their daughter. Imagine the plight of low-income people who have small savings to conduct the wedding!