New Delhi: Move over, Wall Street wizards. It's time to bow down to the sari-clad queens of Indian savings - the housewives who’ve long turned gold into their glittering piggy banks. As the world reels from economic uncertainty and political drama in the US, gold has staged a dazzling rally, hitting an eye-watering Rs 1 lakh per 10 grams in India.

Amid fears that US President Donald Trump might fire Federal Reserve Chair Jerome Powell - a move that sent shudders through global markets - investors are dumping stocks, bonds, and even the mighty dollar in favour of gold. And that’s catapulted prices to an all-time high of 3,482.40 US dollars per ounce globally.

Back home in India, the middle class is catching its breath as 24-carat gold prices touch Rs10,150 per gram in Delhi, Gurugram, and Noida, while hovering around Rs 10,135 in Mumbai, Chennai, and Kolkata. The 22-carat variety, more commonly used in jewellery, isn’t far behind at Rs 9,305 in the north and Rs 9,290 in the west and east.

For many, it’s a moment of what-a-time-to-be-alive disbelief. For others, particularly Indian homemakers who’ve been hoarding gold as if it were sacred (well, it kind of is), it’s a validation of age-old wisdom passed down generations - “Beta, gold kabhi waste nahi hota.”

Sure, millennials might now need a bank loan to buy a mangalsutra, and Gen Z is probably Googling “alternative to gold jewellery for wedding” - but Indian housewives are sitting pretty as their decades of quiet investment are now yielding golden returns.

It’s no wonder that billionaire banker Uday Kotak took to X (formerly Twitter) to crown the Indian housewife as “the smartest fund manager in the world.” Forget your hedge funds and high-frequency trades - the real genius was buying gold at ₹30,000 ten years ago and watching it triple.

Ironically, this price surge comes just as Akshaya Tritiya, a festival synonymous with buying gold, is around the corner. Traditionally seen as the perfect time to invest in the yellow metal, this year might see families performing poojas with a gold-plated spoon instead of adding fresh bling to the locker.

Behind the scenes, it’s global chaos that’s fueling the frenzy. President Trump’s ongoing feud with the Fed - especially his grumblings over interest rates - has shaken confidence in the US economy. Add in tariff tensions, a wobbly dollar, and fears of a slowdown, and investors are stampeding toward the ultimate safe haven: gold.

With prices already up 25% in 2025, analysts warn this could just be the beginning. 

So if your mom ever scolded you for not investing in gold, maybe it’s time to listen to her - because in today’s economy, Mom’s gold is worth more than Bitcoin.