Buying more, wearing less - why India's Diwali gold rush is different

A Diwali gold rush is underway in India, with buyers more focused on making a purchase rather than necessarily wearing their new pieces. This year's festivities have seen soaring gold prices, which have reached $1,440 for 10 grams - nearly double the price from last year. As a result, buyers are buying more gold but wearing less due to financial constraints.

Many Indians view gold as an investment opportunity, rather than a luxury item, with hundreds of thousands flocking markets to purchase gold and silver coins, bars, and jewelry. The World Gold Council (WGC) reports that the proportion of demand for gold driven by investment has increased from 19% in 2023 to 35%. This trend is also reflected in bullion market data.

Jewellers are adapting to the changing demand by designing pieces with reduced quantities of gold, making them appear more expensive. Some retailers have reported an increase in sales despite record-high prices, as buyers seek to capitalize on potential price increases.

Experts predict that retail demand for gold and silver will continue to hold up during the festive season, driven by cultural affinity for physical gold and long-term wealth effects. Indian households hold a staggering $3.8 trillion of gold, equivalent to 88.8% of the country's GDP, which is expected to provide stability and support to the economy.

The Diwali gold rush reflects India's unique relationship with gold, which is not only seen as a luxury item but also as an investment opportunity. As gold prices continue to rise, Indians are seeking to make the most of this trend by buying more gold but wearing less due to financial constraints.

I think it's crazy how much influence gold has on Indian culture! Like, people aren't even buying it to wear it, they're just buying it as an investment . And the prices are insane, like who needs that kind of cash? But at the same time, I get why Indians want to hold onto it, especially with all that history and cultural significance behind it.

And you know what's even wilder? The fact that India has so much gold already, like $3.8 trillion worth! That's more than their GDP . It's no wonder they're adapting to the changing market by making their products look fancier . I just hope people are being smart about their investments and not putting all their eggs in one basket .

I'm low-key thinking that this Diwali gold rush is gonna be a thing for years to come . Like, Indians have been holding onto so much gold already ($3.8 trillion, woah!) and now prices are just going up, up, up! It's not surprising that people are buying more but wearing less - who needs all that bling when you can invest in something that might actually appreciate in value? Some jewellers are even making pieces with less gold to make 'em sound more expensive... genius move, tbh. Anyway, I'm kinda rooting for the economy to stay stable, given India's massive gold stash

I think its kinda interesting how ppl in india view gold as an investment thingy ... like they see it as a way to save money and stuff for the future. And with all these ppl buying gold and silver coins, bars, and jewelry, its no wonder prices are going through the roof ! Some ppl say its coz of diwali but i think its more than that... ppl just wanna secure their futures and gold seems like a safe bet . I mean, india already has so much gold, its like $3.8 trillion or something ... so yeah, it makes sense that people would wanna invest in it too.

I'm literally losing it over this Diwali gold rush!!! Who needs jewelry when you can have gold coins and bars? It's like they're not even worried about aesthetics anymore! The prices are crazy, but I guess that's why people want to invest in gold - it's a smart move, right? But what's up with the designers making less expensive pieces appear luxurious? Like, be real, we all know it's just more metal and cost! Still, I'm kinda impressed by how Indians are adapting to these price hikes. $1,440 for 10 grams?! That's insane!

omg i'm so done with my finances rn i have like $20 left in my account and i'm thinking of spending it all on some new gold jewelry for diwali i know it sounds crazy but like, why not right? i've been following the prices and they're literally doubling every year so i figure it's better to invest now than later plus, i have 3.8 trillion dollars in my family's gold stash lol what can go wrong i swear, i'm gonna be set for life with all that gold

I remember when Diwali was all about throwing money at our relatives, you know? But now it's like they're just trying to stock up on gold for the future . I mean, who needs fancy jewellery when you can buy a whole lot of gold and sit on it for years? My aunt still swears by buying gold during Diwali because "it'll be worth more tomorrow" . And honestly, who knows if she's right or not, but it's definitely becoming a thing here in India. The prices are crazy high now - $1,440 for 10 grams! That's like buying a decent laptop for that price. I guess when you've got that much money stashed away like some Indian households do... It's an interesting trend to watch, but at the end of the day, it's all about making those gold coins last, right?

"You can't take it with you," but in India, you can buy a lot of gold! The Diwali gold rush is crazy, people are buying up and storing it away like it's the future. I guess when you've got that kind of cultural significance, prices just keep going up and up. Some folks are even wearing the bare minimum to keep some cash in their pockets. That's what I call smart thinking!

omg i'm lowkey shocked at how much ppl r buying gold rn 1.44k for 10 grams is crazy! people dont care bout looking fancy or stylish, they just wanna invest & make a profit diwali gold rush is real and it's getting wild everyone's trying to get in on the action, but i guess some ppl cant afford that much bling . its all about making the most of this trend & hoping those prices dont drop

So the Diwali gold rush is in full swing now! It's crazy to see how people are buying up all that gold just because it's perceived as a good investment. I mean, yeah, India loves its gold, but 35% of demand being driven by investments? That's wild . And I'm loving how jewellers are getting creative with their designs - who says you need to break the bank to look fancy .

I've been seeing so many friends and family members buying up gold coins and bars, hoping to sell them at a profit later on. It's like they're playing a game of financial roulette . But hey, if it works out for them, more power to 'em! And with all that gold flying around, I'm curious to see how the economy will hold up in the long run .

One thing that does concern me is that people are buying gold but not really wearing it - like, who's gonna wear 10 grams of gold everyday? . But hey, at least they're trying to save for the future, right?

Ugh, I know some people are saying that Indian households holding so much gold is actually a good thing for the economy, but let's be real, $3.8 trillion in gold is still a crazy amount of money and it's not like they're using it all wisely . Plus, have you seen those gold prices? $1,440 for 10 grams?! That's just getting out of hand . I mean, yes, gold can be an investment opportunity, but shouldn't Indians be looking at more stable options instead of buying into this gold craze? And don't even get me started on the sales tactics of those jewellers - they're just trying to make a quick buck off people's financial struggles .

I think it's crazy that people in India are so into buying gold during Diwali, even if they don't plan on wearing it all that much. Like, I get it, some people really want to invest their money and the prices are high, but still... It's like they're saying "I'll take 10 grams of gold now, but maybe next year". And the jewellers are just rolling with it, designing these fancy pieces with less gold so they seem more expensive. I wonder how much of this is about people wanting to hold onto their wealth and not losing value in the market? It's definitely an interesting phenomenon!

I'm loving all the gold fever in India right now People are really going all out for Diwali, even if it means not breaking a sweat . 1,440 bucks for 10 grams is crazy though . I mean, who needs to wear that much gold anyway? And with the prices being so high, it's all about making an investment rather than treating yourself . The economy might be stable because of all this gold ... fingers crossed!

omg i cant believe how much ppl r willing to spend on gold rn 3.8 trillion is crazy! its like indians view gold as a safe investmen for their future plus its cultural thing too, ppl love the idea of holding onto physical gold for long-term wealth effects i mean idk if its good or bad but its def a sign of how much ppl trust gold in india

I'm surprised that people in India are buying so much gold during Diwali even though they can't wear it all! It's like, they want to invest for the future and stuff . The prices of gold have gone up so much this year ($1,440 for 10 grams!) and a lot of Indians see gold as a way to make money long-term. I guess it's good that they're saving up since India has so much gold already... $3.8 trillion is crazy!

Its no surprise that Diwali is seeing a massive gold rush in India . With prices hitting $1,440 for 10 grams, its clear that many people view gold as an investment opportunity rather than just a luxury item . The fact that buyers are prioritizing purchasing over wearing their new gold pieces due to financial constraints says a lot about the cultural significance of gold in Indian society .

I think its interesting how jewellers are adapting by designing more affordable pieces with reduced gold quantities, which is allowing them to capitalize on the trend . Meanwhile, experts predict that retail demand for gold and silver will continue to hold up due to the long-term wealth effects and cultural affinity for physical gold .

Its also worth noting that India's unique relationship with gold, where it's seen as both a luxury item and an investment opportunity, is driving this trend . With households holding a staggering $3.8 trillion of gold, its clear that this trend is not just about personal wealth but also about economic stability .

I'm low-key obsessed with the Diwali gold rush ! Like, I get it, gold is an investment opportunity and all that jazz , but can we talk about how India's got a serious love affair with gold? It's like, 88.8% of the country's GDP is in gold, fam! That's crazy . And now that prices are soaring, people are buying up but not necessarily wearing their new pieces . I'm just here for the drama and the potential price increases . The way jewellers are adapting by designing smaller pieces to make them seem more expensive is genius . It's like they're speaking my language . Anyone else excited for this gold rush?

The Diwali gold rush in India is wild! I mean, $1,440 for 10 grams is crazy! It's no wonder people are more focused on buying than wearing their new pieces. I think it's interesting that Indians view gold as an investment opportunity, not just a luxury item. That explains why demand has increased by 16% from last year to 35%. But at the same time, it's harsh reality for people who can't afford to wear all that gold . I'm curious to see how the economy holds up with $3.8 trillion of gold in households, it's like a stabilizing force .

I'm loving this Diwali gold rush! It's crazy how some people can see gold not just as a status symbol but also as an investment . The prices are definitely rising and I've seen my aunt buying up all sorts of coins and bars like they're going out of style . And it's not just the price, it's the fact that Indians really believe in the long-term value of gold. My cousin is already planning to buy some gold for her kids' education fund - talk about thinking ahead! The jewellers are getting creative with their designs too, trying to make the most of the high prices by using less gold but still making things look fancy . It's all about being smart with your money, I suppose!

just saw that Diwali gold prices have doubled in one year and it's crazy how much ppl r buyin like they dont even care bout wearin it anyway i think its kinda smart of people investin in gold, didnt expect it 2 b that popular but 35% of demand is driven by investment now jwick jewellers are doin a good job adapting designs 2 fit current prices wonder if ppl r just buyin 4 future or its all bout emotional attachment 2 gold