Why investment in gold in India still is a craze?

Though the tendency to buy and gift gold is predominant for Hindus and Jains, irrespective of their beliefs, people have taken a liking towards investing in gold. That norm about gold being a woman’s savings continues for a majority of families across India due to strong cultural ties to long standing traditions.

How much gold does the average Indian family have?

Assuming only 100 crore Indians can afford gold, the average is 24 grams. Or only consider 24 crore Census households. That makes 100 grams the average.

How much gold do the people of India have?

India has gold reserves worth $33.9 billion as of June….These are the 20 countries with the highest gold reserves.

Is it right to invest in gold now?

After a two-year advance from August 2018 to August 2020, gold has entered a consolidation phase over the past year. It makes sense to invest in gold when inflation rates are high. Also, due to its stability in terms of prices, gold is a good investment when things do not look bright due to economic uncertainties.

Should I invest in gold now?

When it comes to average returns, gold is at par with other financial assets, especially if you view its performance over the past decade. It could be affected in the short term by interest rates, a change in monetary policies, or fluctuations in dollar prices, but in the long term, it is definitely a good investment.

Will we run out of gold?

Based on known reserves, estimates suggest that gold mining could reach the point of being economically unsustainable by 2050, though new vein discoveries will likely push that date back somewhat. Fortunately, gold hasn’t run out yet and is widely considered a wise investment option for any investor.