NoodleNewt
Well-known member
India's Diwali gold rush has taken on a different character this year, with buyers opting for smaller, more affordable pieces rather than going all out on expensive jewelry. The soaring price of gold, which has reached $1,440 per 10 grams, may have slightly reduced demand for traditional jewelry, but Indians are still willing to buy gold and silver coins, bars, and other precious items in anticipation of good luck and wealth.
In fact, the World Gold Council reports that investment demand for gold is on the rise, with buyers seeking out coins, bars, and exchange-traded funds (ETFs) as a way to diversify their portfolios. This trend has been driven by Indians who are holding onto their gold reserves as a hedge against inflation, currency fluctuations, and economic uncertainty.
Jewelers in Delhi's Lajpat Nagar neighborhood, a hub for the country's jewelry market, have reported an increase in sales, with buyers opting for smaller pieces that still contain the same amount of gold. For example, one jeweler is now selling coins that weigh only 25mg, which are priced lower but still offer a significant return on investment.
The Diwali gold rush has also become more sophisticated, with some jewelers designing pieces that appear elaborate but actually contain less gold. This shift reflects the changing tastes of Indian buyers, who are increasingly looking for affordable and stylish options.
According to economists, the appetite for physical gold is unlikely to be dented in the long term, as Indians have a strong cultural affinity for the metal and have been building up their gold reserves over many years. In fact, Indian households hold a staggering $3.8 trillion of gold, equivalent to 88.8% of the country's GDP.
As the festive season gets underway, it remains to be seen whether buyers will continue to snap up gold and silver items despite record-high prices. However, with interest payments on loans expected to fall and disposable income increasing, many Indians are likely to continue their tradition of buying gold as a way to invest in their future wealth.
In fact, the World Gold Council reports that investment demand for gold is on the rise, with buyers seeking out coins, bars, and exchange-traded funds (ETFs) as a way to diversify their portfolios. This trend has been driven by Indians who are holding onto their gold reserves as a hedge against inflation, currency fluctuations, and economic uncertainty.
Jewelers in Delhi's Lajpat Nagar neighborhood, a hub for the country's jewelry market, have reported an increase in sales, with buyers opting for smaller pieces that still contain the same amount of gold. For example, one jeweler is now selling coins that weigh only 25mg, which are priced lower but still offer a significant return on investment.
The Diwali gold rush has also become more sophisticated, with some jewelers designing pieces that appear elaborate but actually contain less gold. This shift reflects the changing tastes of Indian buyers, who are increasingly looking for affordable and stylish options.
According to economists, the appetite for physical gold is unlikely to be dented in the long term, as Indians have a strong cultural affinity for the metal and have been building up their gold reserves over many years. In fact, Indian households hold a staggering $3.8 trillion of gold, equivalent to 88.8% of the country's GDP.
As the festive season gets underway, it remains to be seen whether buyers will continue to snap up gold and silver items despite record-high prices. However, with interest payments on loans expected to fall and disposable income increasing, many Indians are likely to continue their tradition of buying gold as a way to invest in their future wealth.
I mean, who needs a gazillion bucks worth of gold to be happy? The World Gold Council says investment demand is on the rise tho, so maybe it's just a matter of ppl getting smart about their investments 
and building up those gold reserves for the future 
. And omg, $1,440 per 10 grams is crazy! I'm just hoping ppl don't overspend coz inflation is still a thing 
. Maybe this is the year ppl start investin in other stuff too? 
. The prices are insane, but everyone's still diving in - they just wanna get lucky, you know? 
And I get it, it's a way to hedge against inflation and all that jazz 
. But at the same time, I'm thinking about how much of this gold is actually going into jewelry... like, are these coins really worth $1,440 for 10 grams or what? 
.
It's just going to be lost down the drain or swallowed accidentally. I don't get why people are so desperate for gold when they can just save their money like normal. It's not like there's going to be some economic apocalypse that'll make this investment pay off... 
but for real, $3.8 trillion is insane 
. And did you see the number of trillions of gold Indians have?