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  • Category: Miscellaneous

    Do you think the love for Gold is decreasing among people?

    Are people no longer keen on purchasing & wearing gold jewellery? What could be the possible reasons can be explored through this forum thread.

    Jewellery, maybe the real one or an artificial one, is a part of our attire. People of all ages like to wear some kind of jewellery or ornament, may it be an anklet, necklace, earrings or at least a finger ring. We all have some or the other liking in terms or ornaments we wear. When I was small I used to observe in wedding functions people wearing so much Gold, especially women. It was a trend to wear these gold ornaments at family functions especially in weddings. Women are known to be more fond of different kinds of jewellery and they were known for having a special liking for these gold ornaments. These expensive ornaments are kept at safe places at home or in a safety locker. We also find these ornaments getting worshipped on some festival days like Diwali or Dusshera.

    Nowadays I see that people have changed their lifestyle in terms of choosing ornaments. I don't see that kind of craze that used to exist some years back. Even at weddings, most of the people now wear imitation kind of jewellery. I don't see that kind of desire for Gold anymore. It is decreasing day by day.
  • #631397
    Some of the facts associated with gold jewellery are as follows-

    1. If Rs. 10 lakh (or any other amount) is invested in a bank deposit, then there will be a regular monthly or quarterly income depending upon the prevailing rate of interest. In case the same amount is invested prudently in a mutual fund then the return are likely to be higher. On the other hand investing the same amount for buying gold jewellery will result in annual expenditure toward rental of a bank locker and erosion of capital as the making charges and taxes will have to paid while buying. The resale value of gold jewellery is likely to be less than 70% of the amount spent only after few days (until and unless there is a freak appreciation in the gold value).

    2. Wearing gold jewellery increases personal risks and security. Often we come across news reports about jewellery snatching. The risk of armed robbery, kidnapping and even murder also increases.

    3. In developed countries like USA, nobody wears gold jewellery either at workplace or in social get-togethers. The women are known and recognised by their personal achievements and not by the gold worn by them though purchase by their husbands or parents or inlaws.

    Let us encourage each other in sharing knowledge.

  • #631399
    I disagree with the author.

    The thing that would never die is the affection & the attraction of gold. As the author has observed could be the result of less show-off of the ornaments. We have seen a lot of burglaries which also might end up with the killings throughout that we do also afraid of showing our wealth & rather feel secured by showing the simplicity. But in occasions these can be seen as usual that people are using different ornaments in order to attract others as this let them feel something.

    If we add to the above & goes through the variations that in case we don't use these gold jewelries anymore then there are various other things we can do with it. For example, remolding our gold jewelries into a newer design or melt them into gold coins or invest it. With gold we have more better options in comparison to other costlier ornaments. So enjoy having gold with you.

  • #631404
    Yes or No would depend on individual's perception and what they have seen so far. India and China are often ranked highest in the world in the list of countries importing gold.In India, the love of Gold is still there only difference seems to be a little less these days.

    There are still weddings, ceremonies wherein gold in the form of ornaments are seen. It is difficult for me to make out what people are wearing is genuine or imitation ornaments. Either way, I find this a welcome trend because when the dowry is given or taken, gold figures high on the list.

    There is the possibility that gold is kept under wraps by investors and rich people as a tool of long-term investment locked in various places. In Bangalore airport, customs officials had a seizure of 33 kgs! in decemeber and few more small volumes quite regularly this year. Looks like people still love it.

  • #631430
    In India, love for gold will never die. Of course, recently some young people are not showing that much interest in wearing gold ornaments and jewellery. They prefer to be as simple as possible. The rate of Gold is on the top and chances of further very high raise in not anticipated. So we can't purchase these days Gold as an investment. Only the people who wanted to wear these items only will go for purchase. Another problem is the days are not very good and a lot of thefts and other unwanted incidents are happening. When people hear about these incidents their liking for Gold will come down. There is a well-spread rumour among rural areas that central Government is going to declare the limits for gold holding and if anybody having excess they may take away the extra quantity. There is another fear that government will open the lockers and if they find any unaccounted Gold they will be punished. These are the reasons for a decrease in purchases of Gold these days.
    always confident

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