Why Indians love Gold

Why Indians love Gold

Why Indians love Gold

India is one of the largest countries in the world and biggest consumer of gold as well. Indians buy gold because of multiple reasons like investment, for its propitious feeling, protect against inflation; collection as an asset and so on. It also strengthens the closeness of relationships.

Indians are crazy about gold. From rural housewives to urban ladies, gold is simply valued between all of them. Gold is also used as a means of various commitments like weddings, gold medals, gold Credit Cards and so on. Over the centuries, certain festivals of India have been the moment to spend freely on gold. There are also some festivals such as Akshay Trithiya, Dhanteras and many more occasions which are considered as auspicious time to buy these precious metal.

It’s in our root culture to buy gold jewelry especially during weddings.

Reason why Indians love Gold:

Gold: Equivalent to Cash

Gold has high liquidity and is easily transferable and an asset. You can convert this into cash at any time when an emergency arises and it is considered to be a friend in need.You can also exchange your old jewellery for cash.

Gold: As a Symbol of Status:

Gold is a status symbol for Indians. If you have this metal then it is a symbol of being rich and from well to do family. One generally buys gold coins gold bars and gold jewelry for such purpose.

Gold: As an Investment:

Gold is an asset whose value has grown up rapidly and thereby it is also used as a safe investment. It is considered as an effective investment which helps to reduce investment portfolio risk.

Because of import duties and other restrictions, gold prices in India are generally high but it still does not deter Indians from buying more and more gold.

The tradition in India has thankfully cultivated this habit in all of us to buy and invest in Gold and this habit actually is a very healthy habit given the fact that Gold is one of the very few commodities whose value and price has always increased in the long-term perspective although there have been a few dips in their values here and there.

Now even the West is waking up to this prudent advice of our elders and they are embracing the fact that investment in precious metals like Gold and Silver is truly rewarding in all aspects, and as a result of this enlightenment, if you see the investment portfolios of the people living in the West you will see a definite shift in investment strategies that are leaning towards investment in precious metals.

DISCLAIMER:The views expressed in this blog are those of the author and may not reflect those of Jindal Bullion Limited. The author has made every effort to ensure accuracy of information provided; however, neither Jindal Bullion Limited nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Jindal Bullion Limited and the author of this article do not accept culpability for losses and/or damages arising from the use of this publication.