When My mom outsmarted me

Last Feb, I had been to my hometown bhubaneswar. It was a time of rising oil prices, falling stock markets and rising inflation. I was discovering a new investment opportunity that was gold. I was just reading more and more to get convinced of gold trading in market.Gold seemes to be pretty attractive in the coming days to beat inflation and to make gains.

One day, my mother was preparing pan (bettle leaf) and she told me that she wanted money to buy gold. As I was just getting to know more about gold, I answered back that how can she buy gold at this moment as it is so expensive. She told me, its just feb and she is not interested now, However, she wants the money in August.In August the price will be the lowest.

I just moked my mom's superstition, how she is ignorant of the gold price fluctuations in the NYMEX and how big MBA dudes spend nights to predict the price for their clients. And Sitting with her pan dabba, how can she give such a big statement of decline in gold price after 6 months, when all are saying it will go north-wards.

I came back from home, and bought gold at 13K per 10 grams using my trading account. It was mid march. I was pretty convinced at rising of oil prices to 200$ barrel and gold price to 15K. I had a theory of myself to believe in it and lot of expert views and analysis to back it.

I started checking the price everyday as it was moving up.In July it reached 13800. I was excited with the gains from my investment.

Then the unexpected happened. The month of August arrived.Some pulled the price down before I can react to it. If I would have known why, I should have surely written here. As I write this post, gold is trading at 10800 per gram today. Among 12.5% inflation, all my analyst don't have the answer why it went down all over the world.

My Mom called today, as she want money to buy gold now. I had no words to tell "NO" to her, How badly she has beaten and outsmarted me. I just told my father to withdraw two times the money she asked me, from my account and give her to buy gold jeweleries for her and in a sense to say sorry for belittling my mother's experience.