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| Diwali Lights (Photo by Lisa.davis) |
As Diwali begins, many will be greeting it with golden accoutrements.
Swansy Afonso and Pratik Parija of Bloomberg report that “India is the largest gold buyer after China.” This fondness
for the precious metal “has lasted for centuries.”
Indians have
considered gold to be “a symbol of wealth or a form of investment.”
During the Diwali season, gold sales within India typically soar.
Festivals and weddings have pushed the demand up to “850 to 950 tons this year, as compared with 974.8 tons in 2013.” The gold is
used in festival jewelry,
as well as in “the bridal trousseau” and marital gifts.
Whereas other gifts tend to fade away, gold continues to be worth its weight. As Lynette D’Souza, a dentist from Goa, recently stated: Years from now, they
will still have the gold. It is an investment.
Resources
http://www.bloomberg.com/news/2014-10-21/gold-buying-rebounds-in-india-on-diwali-jewelry-sales.html
Copyright October 24, 2014 by Linda Van Slyke All Rights Reserved
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