Gold is a feel good metal with both social and emotional values. Know why Indians invest in Gold on any auspicious day.
Can you picture an Indian wedding without the presence of Gold? The answer is a straight no, right?
Gold takes the centre stage at not only weddings, but festivals and auspicious occasions, like - Akshaya Tritiya, Dhanteras, Karva Chauth, Diwali, Makar Sankranti, Navratri and so on.
For us Indians, Gold is more than just a mere metal - holding strong emotional and social value. It's the 'feel good' metal.
Our desire for Gold is timeless, making it an essential part of every auspicious occasion. You can spot Gold everywhere - from a driver's wedding to the queen's crown.
There's just something about the warmth of gold that appeals to our need for comfort and nurturing.
Hence, It's no surprise why India is one of the world's largest gold consumers today.
In fact, even gifting gold is considered such an important part of auspicious days. Like weddings, which are projected to generate approximately 50% demand for gold just for gifting in marital rituals.
Why are Indians so infatuated with Gold?
Gold is regarded as a lucky and pure metal, being used in religious rituals. It is used to embellish gods, making Indian temples one of the world's largest gold reservoirs.
Even a gold nugget or a box full of gold coins will never be a waste. It's worth rises as more people are willing to pay for it. This alluring metal can generate real wealth for its owners.
Despite the influx of diamonds, platinum, pearls, and even synthetic gold into the jewelry industry, Gold continues to reign supreme - a source of envy among neighbors and pride among owners.
Here's why people buy Gold on auspicious occasions:
- Status Symbol: In India, where individuals enjoy flaunting their money, Gold, especially Gold Jewellery, has become a status symbol. We associate it with wealth, power and status. Also indicating a person or a family's ability to purchase gold even when prices climb.
- Family heirloom: Gold jewelry is an important family heirloom for most Indian households. It is passed down from generation to generation to preserve the family legacy.
- Sacred and sign of Prosperity: According to Hindu mythology, Gold is considered sacred and pure. It possesses a high emotional quotient and a higher perceived value. It brings people closer together and strengthens bonds between them. Gold is also traditionally associated with Laxmi, the Goddess of Prosperity, and Kuber, the God of Wealth. Hence, purchasing Gold is considered equivalent to inviting Gods at home.
- Good Investment: The faith that Indians have in gold as a means of investing is unrivaled. Due to its tangibility, gold has traditionally been regarded as the safest investment (safer than land, property and even mutual funds) due to its ability to function as a hedge against inflation. This is a valuable commodity that can also provide financial security in times of political and economic turmoil. This yellow metal is part of a well-diversified investment portfolio - always seen as a long-term investment.
- Gifting: Gifting Gold is regarded auspicious in India. Giving gold to someone allows them to not only use it, but also to use it as a source of funds in times of economic uncertainty. It is regarded as the highest form of gifting in our country, highlighting the value of an individual and the purity of intent.
- Religious Connotations: Gold is an important aspect of every religious ceremony in the country, regardless of religion. The devotees don't even flinch when it comes to donating gold to temples, despite the rising prices.
- Liquidity: Gold is a popular investment and savings option due to its liquidity. Gold, unlike stocks, bonds, real estate, and other financial assets, can quickly be changed into liquid cash, making it a popular financial asset for people of all socioeconomic backgrounds.
Gold is a simple saving instrument - used by people of all economic levels. By purchasing even a gram of gold, one can save thousands of rupees! No other saving instrument provides the same level of flexibility.
Purchasing and gifting Gold has become easier than ever today - with so many options available in the market. The easiest, safest and most convenient option is Digital Gold. You don't even need to step out of your home to buy Gold. Buy it, Gift it, Invest in it - within seconds on the Jar app.
Enlighten yourself with the benefits and reasons why going digital is the smarter option when investing in Gold.
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