The importance of gold in Indian weddings encompasses its material value and holds a cultural, traditional, and sentimental value. Gold is considered a symbol of purity, prosperity and auspiciousness.
The traditional Indian bridal attire is incomplete without gold ornaments. Gifting gold is another tradition that Indians follow in marriages, as it signifies blessings for the newlyweds.
You must consider the following when buying gold for gifting and investment:
1. Your Budget
One of the most important things you need to determine is the metrics of the gold you wish to buy, as it determines your total budget. Moreover, the right amount of investment impacts your earnings.
You can also think of diversifying your investments by opting for various gold instruments. Investing in physical gold comes with additional costs in the form of making charges, bank locker fees, etc.
2. Gold’s Purity
The most popular standard of gold is 22-karat, with 91.6% pure gold and a mix of zinc, copper, cadmium or silver.
You must also know that the purity of gold also impacts its value when purchasing gold. In other words, the price of 24-karat gold will be the highest, followed by 22 and 20 Karats.
3. Authenticity of the Gold
If you are planning to buy gold in physical form, you must check for the Bureau of Indian Standards (BIS) hallmarking. This hallmark indicates a BIS logo, purity of gold, and fitness number. It is mandatory for these purity levels:
24 Karat
23 Karat
22 Karat
20 Karat
18 Karat
14 Karat
Now that you have understood the significance of gold in Indian weddings, you must know the prices of the metal depend on varied factors. The local demand and supply forces are one of the important factors that influence gold prices.
The demand for this precious metal surges in the wedding season, which can push the gold prices upwards. However, a subdued demand can also negatively impact the gold rates.
Gold is not just a safe investment; it also comes to your rescue when you need funds quickly for your unforeseen expenses. You can avail of an affordable gold loan by comparing different options on Bajaj Markets.
FAQs
What is the significance of gold in Indian weddings?
Gold holds a cultural and ritualistic value in Indian weddings. Apart from this, it also represents wealth and prosperity.
Is gold a good gifting option in Indian weddings?
Yes, gold is considered an auspicious wedding gift. Gifting gold coins and jewellery on special occasions has been an age-old tradition in India. Moreover, it is considered to represent class and elegance.
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