The nominal value of that gold we controversially purchased from the IMF in November 2009, has risen by some Rs 570 million, perhaps the best investment the bank has ever made in its entire history; no wonder there is international talk about moving back to gold as a reference value, if no longer as actual backing, for paper currencies.
The platinum coin we launched last year has increased 16% in terms of platinum value. The gold coin we launched here in 2007 did even better, its value increasing by 42%. That “barbarous relic of a bygone age”, as Keynes dubbed gold, has not lost its shine over the centuries and may still be pressed into monetary service!