That is true. Still many people in our country are emotionally attached with gold. I mean they don't see as money. They even not use it when they are in real need of money.

People use it now as a security in emergent times. They don't want o go to gold saving schemes because these agencies make you run from pillar to post. Additionally these gold schemes of the govt offer  chicken feed interest 

@Rambabu... Yes it is true. But at some cases I have also seen that they even don't use it for emergency purpose. They don't think Gold option at all even in worse condition. 

There are people of both categories . All people are not emotionally attached to gold as people are thinking.

Yes.. I know. That's why I mentioned some people. Obviously many people see gold as asset. And they don't hesitate to take loan and all that on gold when they needed. 

For the same reason, I said all are not emotionally attached with gold. I for one I use gold to serve a purpose based on need.

Same goes for me. It is like investment and we can cash it whenever we are in need.

Continued investment in gold indicates a lack of confidence in the available savings instruments of a country. Investing in gold is a dead  investment. It does not lead to productivity. Around 900 Tons of gold  are imported every year at around $50 billion and it is fragmented into lakhs of owners and stored. This amount of  earnings in foreign exchange is reduced to zero. Emotional attachments has to give way for better utilization of financial resources by the country.The vast poorof the country have to be brought into the mainstream.

I too feel that investing in gold definitely not attractive any more....Inspite of increased price of gold you get far less when you sell your jewelry or gold in other form.It is better to invest in either property,mutual funds or bank deposits than in gold...

With The volatile economic conditions , I'm confused where to invest. Right now, there is no option for me except waiting for an opportune time. Still I'm in a state of confusion.