This refers to the article ‘Halo of the gold rally’ (November 2). Gold’s steady rally has drawn notice from Wall Street to Dalal Street. It raises concern over the world’s faith in paper money.While strong demand reflects caution, it also reveals a deeper fear of future shocks. This is similar to the 1970s, when inflation turned gold into a quiet refuge. Many overlook that even during market highs, central banks kept adding gold to their reserves.The shine of gold may dim with time, but its trust endures. When economies tremble and promises weaken, gold quietly reminds us what lasting value still means.S BalasubramaniyanVillupuram (TN)Urban worriesApropos, ‘We need smaller, dispersed cities’, (October 31). The rapid pace of urban growth has created cities that are increasingly unsustainable and less liveable. Overcrowding, rising pollution, poor waste management, traffic congestion, and shrinking green spaces have severely strained infrastructure and resources.As megacities struggle to maintain basic standards of living, the need to expand economic and developmental activities to smaller towns has become inevitable.Decentralisation can reduce pressure on major urban centres, promote balanced regional growth, and create jobs closer to where people live. Strengthening smaller towns with better connectivity, affordable housing, and efficient civic amenities will not only ease the urban burden but also enhance overall national productivity and improve the quality of life for millions of citizens.N Sadhasiva ReddyBengaluruPrivate talent for PSBsApropos ‘Private talent for PSBs’ (October 31). This is a welcome measure by the government for opening up the key positions in public sector banks to private sector candidates which will bring in fresh perspectives and expertise.By fixing eligibility criteria for the candidates, the vistas has been opened to induct private candidates’ prowess in top management of banks.Merit based selection of candidates from the private sector will reduce the bureaucratic and political considerations. But such recruited candidates must have autonomy in functioning and be free from political pressure.NR NagarajanSivakasiA good initiativeThe Editorial ‘Mutual advantage’, (October 31), rightly lauds the SEBI consultation paper to simplify and rationalise the MF industry governance, particularly on the fee front. A revisit of TER norms was long overdue.The proposed cap on transaction costs and excluding statutory levies — though working in opposite directions for the investors — is to be welcomed. Rather than crib about the commission paid to individual advisors who are the foot soldiers the authorities should try to enforce a better incentive structure for them and for each fresh KYC case introduced from rural semi-urban areas.Liberal norms for investment in MF schemes, by doing away with specific KYC for MF investors as long as the investment is made from a bank account, may be considered. Investment as gift to children should be allowed as long as the details in birth certificate of the child and name and address of the parent on the application match and the donor makes payment by cheque.A good initiative from SEBI.Jose AbrahamVaikom (Kerala)Published on November 2, 2025