DNA Special: Why Indians are at forefront of buying gold?

Today, first of all, we wish you all a very Happy Dhanteras. You will be surprised to know that today on the occasion of Dhanteras, gold and silver worth Rs 7,500 crore were bought in India, whose total weight is 15,000 kilograms. Indians buy gold because they consider it the safest investment, gold is also a part of our culture and it is also called 'Stree Dhan' (a woman's wealth). Today we will tell you why the people of India, plagued by poverty and inflation, are at the forefront of buying gold in the world.

This situation is also when the price of 10 grams of gold has increased by about Rs 11,000 as compared to January 2020. In January 2020, 10 grams was worth Rs 39,119, which now costs between Rs 48,000 and Rs 49,000. The price of gold has increased by 28 per cent since the coronavirus pandemic began. But despite this, the buyers of gold have not decreased.

Think of the country whose people are said to be poor, about which it is said that inflation is a big issue here and people do not even have money to put petrol in their car, The people of that country buy gold and silver worth Rs 7,500 crore in a day. This money is equal to two years' earnings of the world's richest cricket board BCCI. The annual income of BCCI is Rs 3,500 crores.

There is an English proverb Old is Gold. But in the context of India, there has been a tradition of Gold is Old here. Gold has been worshipped as a metal in India since ancient times. And today, three times more gold is kept in the homes of our country than the state treasury of America. 8,133 tonnes of gold is deposited in the state treasury of America, while 25,000 tonnes of gold is kept in the houses of India. And the price of this gold is equal to 40 per cent of India's total GDP.

Once upon a time in our country, this proverb was very much spoken that even if your relatives leave you, gold will never leave your side. And this belief in gold is still in people's minds. In India, gold is not only used for making jewellery. Here, about 30 per cent of gold is used as an investment. 15 per cent is deposited with central banks and 7.5 per cent gold is also used in electronic gadgets and microchips. Whereas about 50 per cent of gold is used to make jewellery. That is, there are many roles of gold and a big role among them is that of financial security. People think that when there is no work in difficult times, then only this gold will help them.

Another interesting piece of information is that the temples of India also have huge deposits of gold. According to an estimate, more than 4,000 tonnes of gold is deposited in the temples of our country. Germany, Italy, France, Russia, China and Japan also do not have that much gold reserve. That is, gold is also offered in India to please God.

You can understand why people of India buy gold in comparison to the whole world by these four reasons.

The first S is that gold is considered the safest investment in India. That is, people like to buy gold for the purpose of investment.

The second S is sanskar, a part of the gold culture in India. Gold ornaments are given by a mother to her daughter at the time of marriage. Then, the daughter gives gold ornaments to her daughter. And this cycle continues. Gold is considered auspicious and this is the reason why whether it is a marriage or any other auspicious occasion, gold is used on every occasion.

The third S of gold is Stree Dhan (woman's wealth). Most of the women in India are not financially empowered and they do not even invest. The easiest investment for them is gold, they buy gold and this becomes their strongest investment. This gold also comes in handy when there is a crisis. Therefore, when gold jewellery is given to a woman on the occasion of marriage, it is called Stree Dhan because it is the wealth of that woman.

And the fourth reason is that gold is forever. Every person wants to have an asset whose value increases instead of decreasing and gold guarantees that.