At a recent marriage party in Delhi all the ladies were seen to be wearing tons of gold jewellery in some sort of unwritten competition. Is it some genetic trait that forces women in the east to be addicted to gold? Gold is always yellow in color and may not match the clothes that a woman is wearing. Wearing a chain thick enough to restrain a buffalo and bangles the size of handcuffs looks crass and tasteless and detracts from the designer clothes that the woman has bought. Some women may be trying to divert attention away from wrinkles of old age or rolls of fat from over indulgence but the effect is hideous. Yet women will not listen to reason. Perhaps it is an unconscious effort at making other women feel inferior by showing greater prosperity and thus increasing prospects of finding a better mate. To that extent it is probably genetic. Apparently Indian households possess 18000 tonnes of gold valued at $950 million. TOI, Monday December 5. There was a 72% year on year increase in gold holding in 2010 and further 5% increase this year. Since gold has to be imported this has resulted in worsening of the current account deficit and is one of the reasons for the falling value of the rupee. Unlike other assets like property which generate rent and shares which pay dividend as well as appreciate in value gold does not provide any regular income. Its price can fall as of any commodity. In 1980 price of gold went up to $900 a troy ounce but then fell to around $270. Most of the gold is locked away in bank lockers. We are not told how much remains unclaimed and what happens to it. Shows how Indians do not trust their currency. With reason.