People living in India and southern Asia look upon gold as a safe investment during times of need, it has been suggested.
Pure Gold Jewellers advises that gold jewellery can prove to be popular with people in this region during volatile economic times, as it is seen as a safe-haven asset, Al Bawaba reports.
"[It is] a very emotional investment. It is also a symbol of family status and wealth and is an integral part of every wedding," states Karim Merchant, chief executive of the gold jewellery retailer.
He goes on to add that just because prices of the precious metal are currently high, it does not mean that customers in India and southern Asia will want to stop or even limit their gold buying.
Reuters recently reported that Indian gold refineries expect to see an upturn in sales of gold as the Akshaya Tritiya festival approaches (May 16th). It is traditionally believed by Hindus that they can gain everlasting wealth by purchasing precious metals on this day.
From gold.org
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