Gold

It will have no real impact on the economy aside from its use in a lot of electronics, so we may see some price increases on some of that. But gold as jewelry is a luxury item and is discretionary, and generally speaking, hikes in discretionary pricing do not impact people or the economy because it is not an essential item.

I think first of all the practice of providing Brides with tons of Gold should go away. Gold buying puts undue pressure on many Middle and Lower Middle Class families. The rich and ultra rich are not affected much by the surging gold prices. One way to ride the wave is through continuous investment in Gold linked Bonds, ETFs and Mutual Funds. Also for silver. Downside: One needs to keep amount aside for investing and well, market factors can go adverse anytime.