Does it make sense to invest in gold?

- 43% of Indian Stocks beat Gold vs. 29% in China & 11% in the US. - Countries vs Equity Returns vs Gold Returns (24years CAGR) - Japan: Equity Returns 4.6%, Gold Returns 11.3%, Gold's Excess Returns 6.7% Brazil: Equity Returns 8.2%, Gold Returns 14.6%, Gold's Excess Returns 6.4% UK: Equity Returns 4.3%, Gold Returns 10.6%, Gold's Excess Returns 6.3% France: Equity Returns 4.2%, Gold Returns 9.3%, Gold's Excess Returns 5.1% Malaysia: Equity Returns 6.4%, Gold Returns 10.0%, Gold's Excess Returns 3.6% China: Equity Returns 5.6%, Gold Returns 8.8%, Gold's Excess Returns 3.2% US: Equity Returns 7.8%, Gold Returns 9.4%, Gold's Excess Returns 1.6% South Africa: Equity Returns 13.2%, Gold Returns 14.4%, Gold's Excess Returns 1.2% India: Equity Returns 13.4%, Gold Returns 12.5%, Gold's Excess Returns -0.9% - However, in every major Indian equity crash (-20%), Gold has gained 10-30%. - Being 50% less volatile* than Indian equities, Gold offers better downside risk-adjusted returns. - Data from 2000 to 2025.