Old is gold. This mantra has been repeated by Zerodha's Nikhil Kamath. He said that gold is a good idea to 'follow smart money.'In his LinkedIn post, Zerodha's co-founder Nikhil Kamath said that investing in gold is a smart way if investing as the golden metal has a better track record as a headge against inflation." Old is gold; always a good idea to follow smart money. Gold's track record as a hedge against inflation is better than any," Kamath said in his post.He added that he maintains a fixed 10 per cent allocation in gold through all market cycles."I maintain a fixed 10 per cent allocation to gold through all market cycles," he said.Gold prices today extended New Year's gains by edging closer to all-time highs. On MCX, gold futures were up 0.7% to ₹55,975 per 10 gram. In August 2020, gold had hit highs of ₹56,200 amid the covid crisis.Gold broadly has been in a bullish trend since October 2022 on back of recession fears.ICICI Direct expects gold and silver markets to be the biggest beneficiary. Gold is likely to regain its safe haven assets title from the dollar in 2023. The brokerage expects gold to hit ₹62,000.Amid the buzz surrounding the IPO market, startups are focusing on maximising their valuations. However, they should focus on slow compounding for the long term, not max valuation in the short term, said Zerodha CEO and founder, Nithin Kamath. He added that consumer-facing startups around the world that have launched a public issue have failed to turn their shareholders.“Startups spend a lot of effort & money on marketing. But I think B2C startups globally that have IPO'd in the last few years have ignored one of their biggest assets—an opportunity to turn millions of retail shareholders with influence on social media into brand ambassadors," said the stock market firm CEO on his Linkedin post.Zerodha handles more than one crore of clients in the retail trading market, claims its official website. Zerodha also runs several popular online education and community initiatives in retail trading and investment. Zerodha's Rainmatter has invested in a range of fintech startups for capital market growth in India.