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Unearthing the Gold Appeal: Why Indian Households Prefer It Over Bank FDs

  • SEPTEMBER 15, 2023
  • Admin

Unearthing the Gold Appeal: Why Indian Households Prefer It Over Bank FDs

Gold has been shimmering through Indian history, lighting up festivals, weddings, and hearts alike. While this might sound poetic, it's also practical! Let's explore why Indian households, especially lower and middle-income ones, see gold not just as a shiny object but as a shiny investment opportunity.

The Gold Rush Among Indian Families

A recent study by the India Gold Policy Centre (IGPC) dropped some golden truths. Most Indian households in the low and mid-income category believe gold beats bank deposits hands down. You might wonder why. The reasons are numerous!

Inflation's Arch-Nemesis: Many families in these income groups have learned through experience more than formal finance lessons. Their real-world schooling has taught them one thing - gold is their best shield against rising prices. So, while inflation might eat away at money's value, gold stands tall, unfazed.

More Than Just Glitter: For these households, gold isn’t just a piece of jewellery; it's a dependable backup. A crisis? An unforeseen expense? Gold can be quickly converted to cash. Its reliability, especially during tough times like the recent pandemic, makes gold the highest paying companies for old gold.

Pure Gold's Pure Value: Another golden nugget from the survey? People prefer plain gold jewellery. No gems, no frills. Why? It has a higher value when you melt or exchange it compared to jewellery studded with diamonds or other stones at any diamond buying companies in Delhi.

Also Read:- The Allure of Selling Silver: Making the Most of Its History & Value

Gold as a Trusty Investment

When households compare gold to bank FDs, it's not just about returns. Gold has that emotional factor, being intertwined deeply with our culture. Plus, there's a trust factor. The World Gold Council confirms this. They believe that when people buy plain gold jewellery, they're not just looking for adornment. They're eyeing it as a robust investment. Gold's consistent performance makes it a favourite among many.

Gold in Indian Traditions and the Modern Marketplace

Gold is more than just an asset. It's a part of India's rich combination of traditions and customs. Every Indian festival or ceremony, whether Diwali, Akshaya Tritiya, or a wedding, often sees families buying gold. This isn't just for its material value but the auspiciousness associated with it. For many, it symbolises wealth, prosperity, and divine blessings.

In modern times, this reverence for gold has taken a new form.

Also Read:- Unravelling the Diamond Industry: A Wise Investment, an Eco-conscious Decision

As urbanisation and digitisation sweep the nation, online platforms and trusted companies have stepped in to simplify the gold-buying and selling process. Companies like https://awardedtrustedbuyer.com/ offer transparency and ensure that sellers get the maximum value for their precious items. It's no longer just about visiting the local jeweller; it's about leveraging technology to make informed decisions.

This blend of tradition with technology ensures that gold retains its esteemed position in Indian households. It’s indeed a metal but it’s a bridge between the old and the new, the traditional and the modern.

New Import Rules on Gold

A quick update for all gold enthusiasts: The government has introduced some changes. Now, importing specific gold jewellery and related items will need government permission. It's a move to reduce the import of non-essential items. So, if you're considering importing gold, keep this in mind!

Looking for Gold or Diamond Buyers?

If reading this has got you thinking about selling some gold or diamonds, remember this - always go to trusted places. If you're in Delhi and wondering about the best place for selling gold, consider 24Karat. They are also known among the top diamond-buying companies in Delhi and silver jewellery buyers in Delhi. Ensure you get the best value for your precious items with them.

In conclusion, gold's allure does not lie only in its shine. It's the trust, the history, and the financial backup it offers. No wonder it remains a beloved asset in Indian households. Whether buying new gold or selling old, always stay informed and choose wisely.

Also Read:- What to Look for When Selling Gold Jewellery in India

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