Gold has been around for centuries and in all that time it has fascinated and enthralled people. It has been ingrained in the different cultures of the world and is part of some of the largest religions in the world. One may recall if they are Christian, that gold was one of the special gifts that the three wise men from the east bright for the baby Jesus in Bethlehem. Gold is also mentioned in the old testament when the opulence of the Egyptians was mentioned and of course the famous calf idol that the Israelites fashioned from gold and worshipped whilst Moses was up in the mountains receiving the Ten Commandments from gold. In Hinduism, Lord Brahma is referred to as he who was born from a cosmic golden egg, or the Hiranyagarbha. In fact gold plays a big part in Hindu mythology. Hindu gods and goddesses are referred to as “golden hued” as reference to their beauty. Wars have been fought over gold and gold has helped finance many wars in return. The conquistadors set of sail in search of more wealth, more gold. Myths were woven about golden cities. We can go on forever about the significance of gold in ancient cultures, however, let’s look at gold in today’s terms. Gold is still a symbol of wealth. It has more value than paper currency, but if we were to single out one culture that has kept its love affair with gold going then that would the Indian culture.
In India, gold is more than just something used to adorn oneself. Gold has particular significance and is incorporated into important events. The Indian gold market plays a big role in the global economy of gold. Everyone keeps an eye on the buying patterns in India around wedding season and special national festivals and events. The price of gold is always expected to go up around those seasons. However, in India people buy gold all the time, not just on special festivals. Gold coins are also offered to deities. There are special days on the Hindu Calendar that are considered auspicious days to buy gold like Dassera or Dhanteras when Hindus invest in Laxmi Gold Coins
While it may seem like Indian people cannot help but buy as much gold as they can. However, more often than not, gold is bought for practical reasons.
1. Gold is that friend who will always bail you out when you are in financial trouble. It is a highly portable and liquid financial asset that can be turned to cash whenever an emergency arises.
2. Gold is more than a status symbol but it is meant to bring luck. There is little argument that you can make against gold being a great wedding present. Newlyweds will get more from a gift of gold than they would from all the kitchen utensils they may be given as wedding gifts. You only need one food processor and you can’t rely on it lasting a lifetime or doing much more than just processing food. Gold is a gift that keeps on giving. You can wear your golden bracelets, pawn them when you need cash quickly or pass them on to your children or someone in your family. Gold does not get old, it might get dented or broken, but even that broken piece of gold is worth more than any new-fangled piece of kitchen equipment.
3. A 24-karat gold wedding gift is meant to bring luck and joy into a marriage. Most brides keep their wedding jewellery, they bring their gold as part of their dowry and a safety net they can rely on as they embark on their new lives.
4. Gold is a practical investment whose value keeps increasing. It is considered to be a secure and safe investment to make during uncertain times.
5. Gold is essential in every Indian home to celebrate important religious festivals. It is associated with the Hindu Goddess of good fortune, the Goddess Lakshmi. Gold is therefore sacred.
6.Gold ornamental value. Women love to show off their gold. They believe gold enhances their beauty.
7. For all its practicality, gold for some is an extension of decadence. It is used in golden facials to give the skin a special shimmer and glow. Gold is also used lot in dentistry and even in food. In the olden days, leaves made out of gold were served as part of the meal.
We’ve all heard the saying, diamonds are forever, but not everyone can afford diamonds. Gold has been around forever and it will probably be valuable forever.