Why are Indians one of the highest Buyers of Gold?
Indians are smitten with gold. So much that Indians are one among the highest good buyers.
in the world after Chinese. India’s adulation with gold dates back to history when gold coins were issued within Gupta Dynasty in 250 AD. India was formerly known as Sone ki Chirya- Golden Temple was built in gold, and Venkateshwara Temple was beautified with this precious valuable yellow metal.
Gold in India is actually a symbol of status, prosperity, religious significance, love and good luck. In Indian culture, it’s considered auspicious to gift gold in weddings. All the women treasure their gold jewelry as one of their most prized asset and as a sign or symbol of family heirloom. With delicate as well and trendy designs gaining as much popularity because the traditional ones, gold has become a symbol of both heritage and elegance.
In addition, gold also includes a deep religious significance among Indians and lots of important festivals are commemorated with buying gold.
Let’s further delve into some facts that throw light on Indians history and love for gold-
INVESTMENT
Since the past times, gold is considered your ally during dire straits. Having gold corresponds to having liquid cash. Moreover, the fact that it can provide you with instant payment during an emergency makes gold your safest bet and most secure investment against a financial crisis. Moreover, history has proved that the worth of gold consistently goes up even though the currency suffers a downfall. Indians consider it safer to actually make an investment in gold instead of stockpiling cash in their banks. Several corporate houses also give gold coins in small denominations to their employees as a reward for his or her hard work.
SOCIAL STATUS
Gold could be a measure of your social status, a sign or symbol of your wealth and affluence. Women are gifted gold jewellery in their weddings as an indication of opulence and good fortune for his or her future. The quantity of amount of gold you hold may be a mark of your status in society. Not only the rich, even the poor have an affinity with gold. It’s quite an accomplishment if they’re able to buy gold with their meagre earnings.
FAMILY TRADITION
The phrase, “Gold is Forever”, holds perfectly true for this metal, particularly in Indian households where jewellery pieces make an integral part of the family heirloom, passed from one generation to another. Indians are quite emotional by nature, thus gifting gold bolsters closeness in their relationships. Majority of the time newly married couples gift one another with a gold ornament on their wedding night. This is often to lay a robust foundation for a blissful togetherness ahead.
RELIGIOUS SENTIMENTS
Gold is actually a great symbol of Hindu Goddess of prosperity, Lakshmi. It’s considered auspicious to offer gold to Hindu deities, such as Tirupati Temple in Andhra Pradesh, and Shirdi in Maharashtra. Several auspicious, religious occasions of Onam, Durga Puja and Pongal are commemorated with buying gold. Dhanteras and Akshay Tritiya, the Hindu festivals are even considered propitious to purchase gold. Indians believe that purchasing gold on these two occasions will bring wealth which will never mitigate, such is their obsession for gold .
CULTURE
Buying gold could be a jubilation in Indian households, all happy occasions like weddings, birth, anniversaries and even festivals are quite widely celebrated with purchasing/gifting gold items. Gold is a metal that in Indian culture symbolizes joy, love and good luck in Indian culture.
One thing is clearly aptly that for centuries, Indians have continued to love gold. For them, it’s regarded both as a family treasure and a financial buffer.
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