While Gold buying is one of India’s most passionate exercises, the young, upwardly mobile generation sees Gold Hoarding as wastage of the bullion and considers buying and flaunting of Gold as amongst the most unessential activities to indulge in. These young individuals driving the demand curve of the Indian economy trust Gold buying as more of an investment purpose rather than a societal symbol, and are more like to invest in tangible entities like Gold Biscuits, Land and Property.
In fact, estimates point to a fact that India is aggressively moving towards austere means in terms of lavish celebrations and splurging;and in turn saving much more, which has helped the country in the recent past tide over the seeming global stock market crunch.
This brings us to a pertinent question: Is splurging really necessary, and is it really worth spending astronomical amounts of money just to highlight one day and then relegate those pricey collections into bank lockers?
Analyzing this question, we believe that jewelry over time has lost its Midas touch of being the show-stopper in anybody’s life. Gone are the days when splurging on heavy sets adorned with 22 or 24 karat gold inlays were considered symbols of lavishness and deep pockets. With today’s younger generation being very considerate of how to save and grow their money, the days of relying on heavy Gold jewelry are long gone.