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Why is the bride gifted gold at wedding? Understanding the socio-economic context

By Finserv MARKETS - Aug 2,2019
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Why is the bride gifted gold at wedding? Understanding the socio-economic context

Marriages in India always ascribe a prominent role to gold. No marriage in India, no matter which part of the country the couple hails from, is complete without a full jewellery set consisting almost entirely of gold jewellery with a smattering of other precious metals that can include silver, platinum and diamonds. The practice of wearing jewellery as a way to adorn oneself in the Indian subcontinent is at least as old as the Indus Valley Civilisation, the sites of which revealed several pieces of jewellery.

Over the years, as gold gained momentum as a form of security during financial crises, it found its way into bridal jewellery as well. For Indians, jewellery, especially one that is made with precious metals, is a way to indicate their social standing and status. As a result, the more gold the bride adorns, the more well-off her parents and the groom’s family are seen to be.

Within Indian families, gold is often passed down the generations as an important heirloom. Since its value is constant, it is often jealously guarded and locked away within bank lockers until the wedding season sets in when every single piece of jewellery is adorned. However, with the advent of digital gold, the need for lockers to store physical gold has also diminished drastically. To invest in gold today, you are required to pay only the value of the gold that the metal holds on that particular day in the international markets.

Digital Gold, available on Finserv MARKETS, facilitates buying and selling of gold online in accordance with international prices of gold. It eliminates the need for a locker when you invest in gold, by providing you with digital security wherein the gold you purchase can be stored until you feel the need to redeem the physical gold.

This Digital Gold is Assay-certified and if and when you choose to redeem it in the physical form, you will be provided with a certificate of authentication that testifies to the purity of the gold you have purchased. Gold has achieved a firm footing within Indian culture, and marriages are far from removed from this rule. To learn more about the significance that gold has achieved within Indian weddings, read on below.

  • Family heirloom:

As previously mentioned, gold jewellery is a prominent family heirloom for most families in India. In a bid to keep the family legacy alive, gold jewellery is passed down from generation to generation. It is a cultural tradition for the mother to pass on her wedding jewellery to her daughter, irrespective of the change in modern designs. By holding onto gold within the family, people are also able to save money that would have been used for buying new jewellery.

  • Status Symbol:

Gold jewellery has emerged as a status symbol in India, where people enjoy flaunting their wealth anyway. Since gold is an indication of a person or a family’s ability to purchase gold even as prices are on the rise, it makes for a great wedding present to the bride. If you purchase Assay certified Digital Gold on Finserv MARKETS, you can also have it redeemed as physical gold in the form of gold coins or gold bars, which can make a great wedding present for any bride.

  • Investment:

Gold is unparalleled in the faith Indians hold in it as an instrument of investment. Gold has long been considered the safest investment, owing to its tangibility which allows it to act as a hedge against inflation and other fluctuating economic and political conditions. By gifting a bride with gold on her wedding, you are aiding her to invest in gold and have a secure source of money for times of financial crisis.

  • Gifting of gold is auspicious:

In India, gifting gold is considered auspicious and gifting it to a bride invokes blessings for a long, happily married life ahead. Gifting gold allows the recipient to not just use it, but also utilise it as a source of funds for times of economic instability.

  • Religious connotations of gifting gold to a bride:

Regardless of the religion, gold is an integral part of every religious ceremony in the country. Aside of festivals such as Akshaya Tritiya and Dhanteras, when gold is purchased in huge quantities, gold holds connotations for every religious ceremony. Gifting gold to a bride on her marriage is symbolic as it is an auspicious occasion. Aside of marriages, gold’s significance within religious parameters in the country can be witnessed by heading to temples such as the Tirumala temple in Andhra Pradesh which witnesses gold donations to the tune of tonnes on an annual basis, despite prices of gold fluctuating.

Aside from being a popular choice for an investment class, gold in India is gifted to brides and grooms during their wedding owing to a plethora of socio-economic as well as cultural reasons. Today, it is much easier to purchase gold via Digital Gold, available on Finserv MARKETS, which allows one to buy and sell gold online and then redeem it in the physical form, either as coins or bars. To invest in gold, Finserv MARKETS is a good place to begin diversifying your portfolio. Not only does the digital gold come with a certification of authentication, but it can be also be stored free-of-cost in your online account; from where it will be redeemed when you place a request for it.

‘Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere”!

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