Article is based on “Retail gold insights: India Investment” by World Gold Council.
In India love for gold is legendary. Gold used in religious needs, jewelry, coins. For better understanding of gold market World Gold Council conducted in-depth survey of more than 2000 retail investors in urban and rural areas. According to the research 61% of those never bought gold in the past say ,that a lack if trust in the product or industry is the main barrier to purchase. 65% of potential buyers have gaps in their knowledge about the gold. In India gold mostly purchased in form of jewelry that worn every day, even at home. There’s clear urban/rural distinction based on risk, usability, size, etc. In order to grow gold demand it should be emphasised as low-risk wealth protection technique.
Access to information about gold available in rural areas is low. But people’s understanding of gold market is not as high as in urban areas.
Gold demand in India grow every year because disposable income grow fast. It’s a custom to wear gold jewellery and popularity of gold will never reduce in India.
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