In times of crisis, Indians turn to gold for its safe haven appeal. However, as the West Asia conflict continues to drag on, PM Narendra Modi has appealed Indians to defer gold purchases so as to reduce imports and protect foreign exchange reserves. In line with the appeal, the central government has also raised import duty on gold and silver from 6% to 15%.
Before the US-Iran war began, both the precious metals touched their all-time highs in January this year. While they are now down from their peaks, the question arises – which among the two metals would be a better investment in the longer run, especially in the current scenario?
