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  • Category: Miscellaneous

    Why there is so much importance of gold in Indian society?

    In my opinion, investment in gold is a dead investment. Its returns can't even beat the inflation numbers. Nowadays, I am seeing many women wearing gilt ornaments instead real gold ornaments because of fear of theft. They just keep the real ornaments either in bank lockers or in their almirahs. But they keep on buying new ornaments even though there is no necessity of buying. It happens in my family also. They won't even sell those ornaments at the time of necessity as lot emotions come into picture. Why can't the mother transfer her ornaments to the daughter? Why there is lot of significance of gold in Indian culture?
  • #599186
    In long run gold has performed well and it is comparable to share market. If we see the data of gold prices and share market returns in last 15 years the annualized returns are about 13-14% for both. It may look to be surprising but true.

    Anyway that is not the only reason why people invest in gold. Traditionally women have an attraction towards this shining yellow material which is rust free and ideal for ornaments. Further it is a universal currency. You can encash it anywhere in the world.

    It is very lucrative for thiefs and due to this reason we are forced to keep it in lockers.

    During II world war some Indians had to leave Burma (now Myanmar ) and they came to India only with their gold ornaments and other gold items and managed house etc here.

    Gold is now losing shine as an investment avenue because so many good investment products are now available in the market but there was a time when it was considered a safe heaven.

    Knowledge is power.

  • #599197
    For every women folk of India, gold ornaments and gold jewels has become a necessity and also sport as the style statement. Be it a function or marriage gathering, the women would look with colorful dresses and whole lots of gold ornaments. The wants are unlimited. Though each women has gold, the one who wears with different design and style attracts the others and thus they too want to have gold jewels on that pattern. Thus her husband has to shell for the new gold though she has enough old ones. As you said, the mother wont transfer the gold to the daughter in full and she would keep something for her. I have seen some women even after the death of her husband, chose to wear gold and that shows how much they have attachment and importance to the gold. So as long as these types of sentiments are there, the gold would be in demand and that matches no investment.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #599225
    Till last 3 years everybody thought that investing in gold is a good aspect. The rates were also increasing like that only. It has crossed Rs3,000/- per gram also. From then onwards there is no increase. Today the rate is around Rs.2800/- per gram. I have purchased gold for my elder son's marriage in 2012 at Rs.3000/- per gram. The gold for my younger son's marriage in 2014 costed me about Rs.2800/- per gram. Now I think investing in gold may not give good returns.

    AS discussed by others ladies wearing gold ornaments is a common practice in our Country. It is a status symbol. It is an indication that you are rich. But nowadays there is no safety for the ladies even without wearing any gold, as such wearing gold ornaments will add to the problems more.

    But it may take more time for all to understand and going away from gold ornaments.

    drrao
    always confident

  • #599236
    Somewhat five years ago,I had written an article A beginner's guide to Gold as a better investment wherein I had mentioned some points in favour of gold . Hence I am not repeating them here.

    But I am one among those who cannot understand the fancy and attraction of gold ornaments by women. I have seen many of my lady relatives frequently changing the fashion of their gold jewels and remaking them into new fashion ones. Only once did I do that and from then on myself and wife told ourselves not to do that. There was loss of money. By gold trade it is only the jewellery shop who get richer and richer.

    But one thing I know. Many women are allergic to other metals. I have not heard of anyone having allergy to gold.
    Gold only gets worn out by hits and abrasions. Bu it never gets damaged by any chemical action. So women ca do any kind of work involving chemicals and acidic or alkaline materials in their daily chores and the ornaments do not get affected.
    Though modern doctors and nutritionists will not agree, it is a traditional belief that gold if ingested in micro micro quantities, enhances the glow of the body and even helps intelligence. Wearing ornaments help in that, is the belief.(I also cannot provide any concrete proof, but I also keep faith in traditional beliefs until proved false)

    The Royals had their vessels in gold, not just to show opulence, but for the belief that it helps in good looks and intelligence.
    I had seen in my childhood gold used for daily medicine for newborn infants.A very very thin wire of gold ( micro foil thin)introduced and infused into a herb medicine and the herb with gold embedded in, is rubbed just once on a clean whetstone specially kept for rubbing or scraping herbal medicines. Similar other herbs are also rubbed and they all mixed by adding a few drops of mother;s milk. Then this is tasted into the tongue of the infant. This is done daily till a period. The earlier elders and native Vaidyas were knowing the ingredients and their proportion. I am not sure whether the same is practised anywhere now.


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