Even if the government levies taxes, the demand for gold in India is still very hot this year. The data shows that India's gold imports reached 52 1 ton in the first half of 20 17, which has exceeded the imports of 5 10 ton in 20 16. The change of India's demand for gold has a great influence on the trend of international gold prices.
So why do Indians prefer gold? Next, we can see the truth through three pictures.
First, Indians worship and wear gold.
Indians worship gold, they think it is worth showing off, and they also use it to pray and pray. It can be said that Indians are very obsessed with gold.
In India, from festivals to weddings, the shadow of gold can be seen everywhere. Next, you can look at the gold jewelry worn by Indians.
Second, gold is a necessity in a wedding.
The report issued by the World Gold Council predicts that the demand for gold in India will reach 650-750 tons in 20 17 years.
Among them, the biggest use of gold purchased by Indians is for weddings. More than half of gold jewelry, gold bars and coins are used for 8 million to100000 weddings every year.
Third, South India loves gold more.
Regionally, South India prefers gold. Among them, the south accounts for 40% of the gold market, exceeding the sum of eastern and northern India, while western India accounts for the second share, accounting for 25% of gold purchases.
Gold shops are very common in India, and Indians can buy most gold jewelry in many small shops.
Fourth, gold is still sacred to religious beliefs.
Indians prefer gold, which is largely related to religious preferences. In India, gold is regarded as a religious relic and is favored by people with religious beliefs in India.
Padmanabhaswamy Temple, an ancient Indian temple in Kerala, is a very representative temple where Indian religions advocate gold.
5. Gold is the first choice of wealth storage in India.
In 20 1 1 year, an Indian investigation team opened several hidden vaults, and they found a large number of gold jewelry, gold items and100000 historical gold coins in the vaults. The total value of all treasures is about $654.38+0.5 billion.
Analysts pointed out that Indians have the habit of storing gold for a long time, and storing gold is their most important means of wealth storage. Indians prefer to spend money on buying gold rather than participating in the stock market, real estate or other assets.