Gold Facts
October 31, 2018 Leave a comment
As we head towards another Diwali, here are some gold facts to keep you motivated to make regular purchases in the physical product.Repeat ;physical and no version of paper gold.
1.With every 1 per cent rise in income, gold demand climbs by 1 per cent. But when prices rise 1 per cent, gold demand falls only 0.5 per cent.
2.For a 1 per cent increase in inflation, gold demand increases by 2.6 per cent as investors turn to gold to protect themselves against inflation.
3.Rural consumers show a pronounced preference for plain gold jewellery, while urban consumers are likely to buy gold set with precious and semi-precious stones.Plain gold jewellery accounts for some 88 per cent of purchases in rural India while the corresponding figure for urban areas is 57 per cent. In the days of rampant lab simulated diamonds sold as natural ones,a body is likely to help themselves by choosing plain gold pieces or simply discounting the price of “diamonds” while buying ornaments.Better assume them to be fake and be pleasantly surprised if they turn out otherwise. Read more of this post
Buying gold on Diwali is a well established tradition in India.Have you ever wondered how well you would have done if you had bought gold every Diwali day for the last 10 years?Here are the stats:
wealthymatters 