Gold is not forever

The Brexit bedlam triggered shock waves in global markets, but the fear benefitted one specific set of investors: gold bugs. Gold prices have just hit multi-year highs amid renewed market jitters over how Britain's decision to leave the European Union will impact growth and earnings. However, the short term spike in gold price does not hide the fact that the long-term performance of gold mutual funds has been pedestrian. U.S. gold is trading near highs of $1,370. Indian gold prices have moved up in-step. Standard gold (99.5 purity) in Mumbai has climbed to ₹31,315 per 10 grams. Pure gold (99.9 purity) is trading near ₹31,465 per 10 grams. In December 2015, gold in the domestic markets was trading just below ₹25,000. Just after Brexit became a reality, World Gold Council said: "With Britain voting