New Delhi, Dec. 31 -- In the comic books I devoured as a child, the masked Lone Ranger announced his arrival in the lawless Wild West with a ringing "Hi-Yo, Silver!" Justice would soon follow, bullies would be defeated, and order restored. When the story ended, the final frame showed the Lone Ranger riding into the sunset, one last triumphant cry echoing behind him: "Hi-Yo, Silver! Away!"

When I bought silver bars at Rs.55,000 per kg, however, I harboured no such illusions of heroism. I was not riding in to save anyone. My motivation was entirely selfish: to protect a slice of my savings from becoming worthless in a troubled world.

Today, at indicative prices of around Rs.2,43,000 per kg, I have sold that silver.

Selling it, I discover...