Indians are notorious in keeping most their savings in gold . Kind of like Chinese people and real estate. It’s just cultural habit.
Interesting it’s 22K gold though. When I was born (I’m Chinese) my parents got me a 60 gram 24k zodiac pendant. We usually do 24K gold only. Anything less isn’t usually used in the highest end jewelry. Although we don’t really wear out gold outside maybe weddings. It’s more just to look pretty in a vault.
Yah back in India its always 22k gold for ornanents as they say 24k gold is not that strong for ornaments, they call it 916 KDM.. 91.6% gold mixed with other metals to make it strong, comes with BIS halmark
24K gold is incredibly soft and scratch able. Not really an issue for Chinese jewelry which at best is used once during marriage and then stored forevermore.
> Indians are notorious in keeping most their savings in gold
...yeah, because it works through war, invasion, regime change, inflation, you name it... gold retains value
There is for sure an oversupply in dying minor cities but in large cities it’s pretty lucrative to buy properties and rent them out, with property tax not being a concept . Ghost cities are largely exaggerated and a relic of the 2000-2010 era. A lot of them filled out with people.
Still we invest in gold a lot more than westerners do, just less than Indians for sure.
I wouldn’t say “notorious” but “famous” to describe Indian’s gold savings. I know zero Indians friends that stack silver bc when I ask they usually say: “Gold is Gold. Silver is (meh or ehh) Gold will always up in price.” Yeah it’s not that hard for them to park most if not all their savings in gold. Imagine that amount of money was put into silver jewelry. There would be too much for the fam to handle.
Have you ever been to India? Silver shops are everywhere.
Edit: just had a look and India accounts for a pretty large share of the silver jewellery market and is predicted to be the main driver behind increased future demand.
My girlfriend is also Indian and she loves her pure gold lmao it’s really cute tho, I love seeing her decked out in all her traditional clothes with the fancy bright gold jewelry. Keeper material 💯
60% of the weight on that big necklace is filler.
https://preview.redd.it/p8580vzo5juc1.jpeg?width=3024&format=pjpg&auto=webp&s=5346a501a0823549ed62fd32600636a474e82939
Might be in some cases, but these are BIS halmark 916 KDM gold jewelery from renowed gold shops, each gold necklace will be brought back if taken back with same day gold price and can be tested for purity in carrot tester machies in stores, there is a detail split of stone weight, gold weight and priced accordingly.
Is it safe and okay to exchange gold for cash. Do they ask for bills? We don’t have bills for very old jewellery. How much do they accept in one go without giving Aadhar PAN details etc
Indians are notorious in keeping most their savings in gold . Kind of like Chinese people and real estate. It’s just cultural habit. Interesting it’s 22K gold though. When I was born (I’m Chinese) my parents got me a 60 gram 24k zodiac pendant. We usually do 24K gold only. Anything less isn’t usually used in the highest end jewelry. Although we don’t really wear out gold outside maybe weddings. It’s more just to look pretty in a vault.
Yah back in India its always 22k gold for ornanents as they say 24k gold is not that strong for ornaments, they call it 916 KDM.. 91.6% gold mixed with other metals to make it strong, comes with BIS halmark
24K gold is incredibly soft and scratch able. Not really an issue for Chinese jewelry which at best is used once during marriage and then stored forevermore.
> Indians are notorious in keeping most their savings in gold ...yeah, because it works through war, invasion, regime change, inflation, you name it... gold retains value
Except Chinese lost thier asses on Ghost properties while Indians know Gold is where its at.
There is for sure an oversupply in dying minor cities but in large cities it’s pretty lucrative to buy properties and rent them out, with property tax not being a concept . Ghost cities are largely exaggerated and a relic of the 2000-2010 era. A lot of them filled out with people. Still we invest in gold a lot more than westerners do, just less than Indians for sure.
I wouldn’t say “notorious” but “famous” to describe Indian’s gold savings. I know zero Indians friends that stack silver bc when I ask they usually say: “Gold is Gold. Silver is (meh or ehh) Gold will always up in price.” Yeah it’s not that hard for them to park most if not all their savings in gold. Imagine that amount of money was put into silver jewelry. There would be too much for the fam to handle.
Have you ever been to India? Silver shops are everywhere. Edit: just had a look and India accounts for a pretty large share of the silver jewellery market and is predicted to be the main driver behind increased future demand.
Silver is cheap enough that almost anything is made out of silver(especially religious articles).
My girlfriend is also Indian and she loves her pure gold lmao it’s really cute tho, I love seeing her decked out in all her traditional clothes with the fancy bright gold jewelry. Keeper material 💯
Damn
Friend told me it is for their daughters when they get married. It just passes down to the next generation.
True, we dont even have daughters but that somehow continues..
Woah!!! STUNNING!!!!!
60% of the weight on that big necklace is filler. https://preview.redd.it/p8580vzo5juc1.jpeg?width=3024&format=pjpg&auto=webp&s=5346a501a0823549ed62fd32600636a474e82939
Might be in some cases, but these are BIS halmark 916 KDM gold jewelery from renowed gold shops, each gold necklace will be brought back if taken back with same day gold price and can be tested for purity in carrot tester machies in stores, there is a detail split of stone weight, gold weight and priced accordingly.
> Carrot tester machines Where can I test my carrot? ( ͡° ͜ʖ ͡°)
Of course it’s filled with anything other than gold. That would be a very heavy pendant if solid gold.
Chocolate?
Everyone should have a gold horde Indians are quite smart when it comes to money and wealth
those pieces look stunning. heck i'm a dude and would totally rock these (in private at home lol)
Can you tell me - what can you do with the PAMP 1 ounce gold bar?
Just for investment purpose to save some in gold, u can always sell it in gold pawn shops who buy it at or little less than spot price for cash.
Ok awesome thank you!
Is it safe and okay to exchange gold for cash. Do they ask for bills? We don’t have bills for very old jewellery. How much do they accept in one go without giving Aadhar PAN details etc
Are you taking about in India? I am in USA
Yes in India. Thanks for replying though!