25F Investing very little of what i invest to 100% gold, Everybody is saying it's a bad call.
CTC -> 9lpa WFH
Saving ->~35k/month since last 1.5 years so i have ~7 lakh saved in bank, I don't have much knowledge on stocks and everything. I have kept 1 lakh as emergency fund, and invested 6 lakh in gold. I am only earning member in family.
My reason: Due to rupee going down constantly and dollar rising, only value(except US Stocks, which are tough to buy in India) i see that makes sense is in Gold as it's safe from currency going down/rising. Mutual funds haven't grown much since I have started my job(My friends that invested in mutual funds are at same baseline as when they started) and i don't have time to figure out which stocks will rise or fall and do fast trading.
Does it make sense to go 100% on gold? I have no plans of taking it out in few years.
Everybody is telling me to diversify my portfolio but with rupee falling against dollar and the plans to provide freebees for betterment of less earning part of the country, I feel the trend won't stop. Along with this ,after 8th pay commission, one of the largest employment group of our country(government employees) will get more money(in rupees) for same job increasing inflation and spending further causing rupee to go down.
Even if i want to diversify, what should i start with? Too little money to buy property, FDs grow very slow, kept an emergency fund. Don't have time to figure out when to buy/sell a stock and investing in US Stocks from India is a hassle in itself.
So what should i do?