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Sidheshwar Shirsath, who lives in the suburbs of India’s financial capital, began to buy gold when married first year ago.
Sinks, 35, works like a driver and wins 55,000 Rupees ($ 889 CDN 889) per month. He decided to have a good way to build a nest egg for the future of gold.
When there are several money to spend the investment, there was a gold jewelry, including rings and bangles, and now there are more than 130 grams of rupees (16,000 CDN).
“After a while after buying gold gold, the rates began to increase, so I was grew in interest to invest.”
In recent months – his flavor – broke the price.
In a global scale, an ounce of $ 3298 on Friday was over 25 percent, more than 25 percent, and about 42 percent compared to the beginning of the year.
The value of gold on a global scale Increased the unity of global economic uncertainty and concerns about the impact of the tariff policy of the US President Donald Trump’s tariff policy, including geopolitical tensions.
Precious metal is often seen as a “safe shelter”, which investors flowed during the economic tension period.
‘Gold is part of a social fabric’
In India, the price has become more exacerbated and more than 30 percent since the beginning of the year, with additional increase managed by the ambitulation of Rupee against the American dollar.
But many Hindu, like Swirs, more than a gold investment.
He said, “Golden Indian women are very close,” his wife, sionish, and a heavy golden choice and glittering bangles in modest homes. “Especially need gold for festivities and weddings.”
Gold in India is primarily in the form of jewelry because it can be a way to show one’s wealth and condition. The precious metal also occupies Giant religious and cultural significance.
For example, it is part of the dowry in weddings and is considered convenient to get gold in certain Indian festivals.
“India is a very unique market for gold,” he said. “Gold is part of a social fabric and you don’t have to be on any economic layer to consume gold.
“We all have a family doctor in India, so there’s a family jeweler.”
India among the world’s largest gold consumers
The village, which has experienced by 1.4 billion people in the country and does not easily access the bank accounts, is a popular way to save gold deposits – with many.
All this is one of the world’s largest consumers in India’s largest gold consumers in the world, and the country’s largest consumers in the world with a precious metal that hit about 800 tons over the year.
The steep price, but affects the amount of metal they purchased.
“With the consumption of the jeweler, the price of gold is waiting and watching, waiting for the consumer,” he said. “We see the moment in a while, the consumers return.”
The World Gold Council shows that in the first three months of this year, in the first three months of this year in India, the first three months of this year decreased by 15 percent compared to the first quarter of last year.
However, as the price increases, the value of the country’s gold needs is the amount of gold that has increased 22 percent to reach 940 billion rupees ($ 15.1 billion) in the first quarter of this year.
“People get less quantities,” he said. “All have budgets. If you have $ 2,000 to spend $ 2,000, they will spend it and get a lower volume.”
But he said he said that despite the high price of gold, none of the gold said he did not lose the brightness.
“There is gold culture in India, and do not intend to stop buying gold for prices,” he said. “In fact, there will be more confidence in more categories because they make their money.”
Invest in golden
To be an appetite with the appetite of Intenans, in recent years, the government took a number of steps to ensure the official economy.
These are the import duty on gold last year by 6 percent, partially high taxes to prevent high taxes in the country by 6 percent to 6 percent
The government also offers sovereign gold bonds as an alternative to physical gold.
Jain of the Gold Council of the World Golden, the Indians are competing in gold, for example, through exchange ETFs (ETFs) and the price increase in price to consider these options.
“The younger generation gets more and more savvy and we believe that the investment in gold and gold assets will receive a little more digital,” he said.
According to the World Gold Council, gold investment demand, including ETFs, increased by 7 percent in India.
Jpmorgan Predicts the price of gold Next year can hit a ounce of $ 4,000.
Shirsath, he and his family now said it was enough jewelry, but still wants to continue to buy gold.
“My next plan is to buy gold coins or go for bonds.”
Clock | Great box stores, as popularity warms up, offers gold to customers:
Gold has long been seen as a stable investment and has become so popular in the period of global uncertainty that the Big Box stores jumped from the bandwidth like Coston.
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