“The Hindi Poverness knows …”: Sridhar vempu supports gold, mocks bitcoin, economists, and “luxury theories”

With the outbreak of gold prices beyond $ 1 in retail markets, hitting the headlines of the invested newspapers and madness, the Zoho Sridhar Vembu’s founder weighs with full support from the old India’s faith in yellow minerals and a pointed criticism of modern financial systems.

In response to the commentary of Kotak’s viral oud, who is called the Indian housewife, “The smartest director of funds in the world,” Vibo said, “I agree with all sincerity with Uday Kotak G. The love of the Indians of gold and lack of confidence opposite the paper origins is the basis of our long -term stability and civilization of civilization.”

It did not stop there. At some point, Vembu added: “The money is very important that it cannot be left to banks, central and economic governments, and their luxurious theories (or software engineers for this issue and I look at you Bitcoin).”

He concluded and concluded with “real money” gold: “The Indian poorest knows this and that knowledge is strength. With the increasing mismanagement of global economic conditions, India’s stability will come from gold.”

His remarks came at a time when golden futures in June in MCX reached the highest level at all times at 99178 dollars per 10 g, an increase of nearly $ 1900 from the previous closure. In material markets, gold was traded at a price of 97200 dollars per 10 grams on Monday (except for the tax and services tax), which prompted retail prices until $ 1 per 10 grams after adding the commodity and services tax by 3 %.

Silver also rose, as future contracts rose to $ 95,562/kg in early trade. Both minerals have witnessed gains amid high global fluctuation, driven by the weak US dollar index, continuous trade tensions in the United States of China, and investor preferences for safe assets.

Experts believe that uncertainty in global financial markets and the escalation of the trade war between the United States and China will continue to support precious metal prices. They expect gold to remain volatile but strong, with support at 96,100 dollars and resistance about $ 98,400 on MCX.

Retail gold prices across the major Indian cities:

• Delhi: 22 thousand US dollars 57184/8g, 24 thousand dollars in 60,984/8g
• Mumbai: 22 thousand dollars in 57,496/8G, 24 thousand dollars in 61,264/8g
• Chennai: 22 thousand dollars in 56,912/8G, 24 thousand dollars in 60,632/8G
• Hyderabad: 22 thousand dollars in 56,896/8g, 24 thousand dollars in 60,640/8g