Gold prices have rallied 18 percent in 2019 so far and have gained over $100 per ounce since the beginning of August. There are fears of a recession amidst an escalating trade war and collapsing bond yields have fueled this rally.

The yellow metal has hit record highs not just in India, but also in the UK, Russia and a whole host of other countries. However, the spike in gold prices hit imports into India which have now dropped to $1.71 billion in July.

In an interview to CNBC-TV18, TP Ostwal, managing partner at TP Ostwal & Associates; Shekhar Bhandari, senior executive vice president at Kotak Mahindra Bank and Surendra Mehta, national secretary at IBJA, discussed whether this rally will sustain and whether it is the right time to invest in gold assets.