Value Research

Over 25 years, both equities and gold comfortably outpaced inflation, but the experience of owning them was very different.

The Sensex rewarded disciplined investors who stayed invested through every major correction. Gold, meanwhile, delivered most of its gains in a few sharp rallies triggered by global events that are almost impossible to predict in advance. Fixed deposits managed to stay ahead of inflation over the long run, while savings accounts couldn't even preserve purchasing power.