Though gold has several applications or uses the main reasons why Indians take to gold are:
1. Gold is considered an equivalent for liquid cash: Gold is highly liquid and portable as a Security or Asset. It can be converted to cash anytime when an emergency arises and is considered a friend in need.
2. Gold is considered as a Status Symbol: Especially in India gold symbolizes wealth. In Indian weddings the Gold brought by the bride shows her family's status and wealth. It is believed that a bride wearing 24k gold on their wedding to bring luck and happiness throughout the married life.
3. Gold is a very good investment: Gold is an asset which has consistently increased in value and thereby considered as a safe and secure investment. In the last five years Gold has delivered over 20% YOY return. It is considered an effective diversifier which helps to reduce portfolio risk.
4.Gold is considered as gift item: It's precious and worthy across all cultures and times. The gold jewelry is given as gifts during weddings, festivals and other special occasions.
5. Gold has great religious significance: Gold is the symbol of the Hindu Goddess Lakshmi and considered highly auspicious. Gold is brought or presented on festivals like Dhanteras and Akshaya Tritiya. Toe rings are never made of gold as it represents the goddess of wealth and should not be soiled by touching a human's feet.
6. Great Ornamental Value: Who can resist gold ornaments? Women of every age and time have always loved wearing gold ornaments. Moreover, Gold ornaments are never out of fashion. It also may be remembered that wedding rings are also traditionally made of gold to mark a long lasting relationship.
7.Great value as Heirloom: Gold jewelry is something which can be passed down from one generation to the other as ancestral property.This is why people say Gold is forever!
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