As gold and silver prices surge to historic highs in October 2025, ace investor Vijay Kedia has issued a cautionary note to Indian investors, urging them to look beyond bullion and focus on value creation through equities. In a widely discussed statement, Kedia referred to gold and silver as “lifeless money,” arguing that while they preserve wealth, they do not generate it. His remarks come at a time when retail and HNI investors are pouring capital into gold bonds, silver ETFs, and physical bullion, driven by geopolitical uncertainty, inflation hedging, and currency volatility.
Kedia, who owns small quantities of silver ETFs and sovereign gold bonds, clarified that he would not invest further at current price levels. He recalled the infamous Hunt brothers’ silver speculation in the 1980s, warning that similar euphoria could lead to sharp corrections. “Gold and silver are not creative assets. They don’t build businesses, they don’t generate employment,” he said, adding that equity investing remains the most productive path to wealth creation.
🧠 Key Highlights from Vijay Kedia’s Commentary on Bullion Frenzy
| Element | Details |
|---|---|
| Speaker | Vijay Kedia, Investor and Market Veteran |
| Date | October 17, 2025 |
| Core Message | Gold and silver are “lifeless money” |
| Investment Stance | Owns small quantities, no further allocation |
| Historical Reference | Hunt brothers’ silver crash in 1980 |
| Preferred Asset Class | Equities for long-term value creation |
Kedia’s comments have sparked debate across financial circles, with many echoing his call for balanced asset allocation.
📊 Timeline of Bullion Price Trends and Investor Sentiment
| Year | Gold Price (₹/10g) | Silver Price (₹/kg) | Investor Sentiment |
|---|---|---|---|
| 2022 | ₹52,000 | ₹63,000 | Moderate, inflation hedge |
| 2023 | ₹58,500 | ₹72,000 | Rising, geopolitical tensions |
| 2024 | ₹65,000 | ₹80,000 | Strong, central bank buying |
| October 2025 | ₹72,300 | ₹89,500 | Frenzied, retail and HNI accumulation |
The rally has been fueled by global central bank purchases, Middle East tensions, and weakening dollar index.
🗣️ Reactions from Market Experts, Advisors, and Retail Investors
- Wealth Advisor: “Kedia’s warning is timely. Gold is a hedge, not a growth engine.”
- Retail Investor: “I bought silver ETFs last month. Now I’m rethinking my exposure.”
- Fund Manager: “Equities offer compounding. Bullion offers preservation.”
| Stakeholder Group | Reaction Summary |
|---|---|
| Financial Advisors | Urging clients to diversify |
| Retail Investors | Reassessing bullion-heavy portfolios |
| Equity Analysts | Highlighting undervalued midcaps |
| Media | Amplifying Kedia’s “lifeless money” quote |
Kedia’s remarks have revived interest in midcap stocks, small-cap funds, and sectoral rotation strategies.
🧾 Comparative Snapshot: Asset Class Performance (YTD 2025)
| Asset Class | Return (%) | Volatility | Liquidity | Tax Efficiency | Growth Potential |
|---|---|---|---|---|---|
| Gold | +18.5 | Low | High | Moderate | Low |
| Silver | +22.3 | Medium | High | Moderate | Low |
| Equities | +12.7 | High | High | High | High |
| Real Estate | +6.2 | Medium | Low | Low | Medium |
| Bonds | +4.1 | Low | Medium | High | Low |
Kedia’s portfolio reshuffle this year included exiting select stocks and redeploying into liquid equities with strong fundamentals.
🧭 What to Watch in India’s Investment Landscape
- Bullion Correction Risk: Technical indicators suggest overbought levels
- Equity Rotation: Midcaps and financials gaining traction
- Investor Education: Renewed focus on long-term wealth creation
- Policy Signals: RBI’s stance on inflation and currency stability
Kedia concluded, “Money must be alive. It must work, grow, and build. That’s what equities do.”
Disclaimer
This news content is based on verified investor commentary, market data, and media reports as of October 18, 2025. It is intended for editorial use and public awareness. The information does not constitute investment advice, asset allocation guidance, or financial forecasting and adheres to ethical journalism standards.
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