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There is a deep historical significance of gold in Indian culture, enticing people from different cities with its beauty and charm. The importance of gold has grown over time, with Indians accounting for the majority of gold consumed globally. In Indian history, gold is more than just an investment. Rather, it is a culturally significant material that has become an indispensable part of Indian households, where family members often purchase gold for investing as well as for traditional purposes.
Read through the following sections to find out how important this yellow metal is for the people of India.
Gold is used in religious ceremonies in India, regardless of religion. Gold is a valuable asset in all major celebrations. Indians commonly purchase gold for various religious and festive occasions. These purchases are often considered ‘golden gifts’, symbolising blessings, prosperity, and devotion.
There is no greater status symbol in India than gold, and Indians are not afraid to flaunt it. Gold is one element that can help people stand out in a crowd. Since gold is such a precious metal, it has been a status symbol since time immemorial. More importantly, search terms like ‘gold chain price in India’ and ‘gold necklace price in India’ online, reflect the growing interest and aspirational value associated with owning gold jewellery.
Indians consider offering gold auspicious, with gold gifts integral to all ceremonies. Gifting gold allows recipients to put it to good use, as it is not only a valuable source of money but is also lucky. A gold gift is perhaps the highest form of gift in the country, demonstrating an individual's worth and the purity of intent. These gifts are common during weddings, birthdays, baby showers, and religious functions.
Another crucial importance of gold jewellery lies in the fact that this metal is part of the family heirloom. Gold is found in every Indian household and is regarded as such by most Indians. Families pass down gold jewellery and ornaments from generation to generation to preserve the family legacy. In most households, the mother passes the ornaments to her daughter during weddings, regardless of changes in design trends or value. Gold is an extremely sentimental part of certain traditions and is still a treasured heirloom. Passing down gold from generation to generation also allows people to save money on gold, avoiding ever-increasing gold prices.
As previously stated, jewellery holds a deep significance in both tradition and religious beliefs. Apart from the importance of gold, Indians also value certain other metals, including:
Silver is another popular metal that people wear. Bangles, rings, and anklets are commonly made of silver.
In Indian tradition, silver represents protection from magic. Silver, according to Hindus, represents the Moon or Luna. It represents femininity and motherhood. People also believe that silver helps with negative emotions and improves one’s dreams.
Copper is another popular metal. Individuals frequently associate copper with fertility and wealth. Because it is a highly conductive metal, it can easily combine with other metal alloys to create more conducive and long-lasting jewellery. Copper jewellery represents love, peace, and improved relationships with loved ones. It can also help people build better relationships with others.
Platinum is one of the most expensive metals in jewellery production. It is simple to clean; you can simply use mild soap and a soft cloth to restore its natural glow. It is also a hypoallergenic metal, making it ideal for people suffering from allergies.
Diamond is one of the most common gemstones in jewellery. It frequently features in weddings and engagements. Diamond, according to tradition, brings comfort to its wearer. In addition, this stone possesses supernatural abilities that will propel individuals to success. Diamond represents purity, innocence, and everlasting love.
Evidently, the significance of gold in Indian culture is abundant. Apart from cultural and religious context, gold also acts as a perfect avenue for investing for millions across the country.
Important uses of gold are as follows:
Jewellery and Ornaments
Gold is widely used for crafting jewellery and ornaments due to its malleability, durability, and aesthetic appeal
Financial Investments
Gold serves as a store of value and a hedge against inflation, making it a crucial asset for individuals and investors
Industrial Applications
Gold's conductivity and resistance to corrosion makes it valuable in electronics, dentistry, and various industrial sectors, including aerospace and defence
Gold is integral to India's economy, serving as a hedge against inflation and a trusted investment. Households hold approximately 25,000 tonnes of gold, often used as collateral for loans, especially in rural areas where banking access is limited.
Indian traditional jewellery encompasses various styles like Kundan, Polki, Meenakari, Jadau, and Temple jewellery. Each style reflects regional craftsmanship and cultural heritage, often worn during significant occasions such as weddings and festivals.
Wearing gold symbolises wealth and prosperity in Indian culture. It also serves as a financial asset, providing security during economic uncertainties. Additionally, gold's durability makes it a preferred choice for heirlooms, passed down through generations.
The Indo-Greeks were the first to issue gold coins in India around 270 BCE, introducing them for economic transactions. Later, the Kushan emperor Vima Kadphises standardised gold coinage around 100 CE, further embedding gold into India's monetary system.
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