Gold Rate in India

If you’ve reached this page, you’re probably looking for the gold rate in India. When looking to keep up with the day to day price fluctuations, the best way is to look at gold on a 30, 60 and 90 day chart. This will give you an idea of the current trend in gold from a few different perspectives. The reason we have a page dedicated to the price of gold in Indian rupees is that gold is a major part of Indian culture. Hence, we can learn a lot by watching the amount of investment demand coming from India.

Here are the main reasons why gold is so popular in India. Each of these has a direct impact on the gold rate in India.

Part of The Indian Culture
India’s love affair with gold is nothing new. It goes back generations and generations. There are few, if any, cultures that have as rich a history as India does with gold. In India, gold is not something that is bought only when it is popular or in a rising trend. It is not only a part of their culture but part of their belief system and a major part of their religion

Hindu Mythology
In Hindu mythology, some of the goddesses are described as golden, which is meant as ultimate beauty. Gold is considered to be a sacred item. You will often see gold in religous functions; the explanation being that gold is pure. Or, that Indians see gold as a symbol of purity, prosperity and good fortune. This is a stark difference from the United States where gold investors are sometimes seen as weird or “gold bugs.”

General History
When you study Indian history you’ll recognize that many of the Indial dynasties ruled different monetary systems throughout thousands of years. It was gold that served as the common medium of exchange or store of value. This was seen as important by Indians because personal wealth could still be preserved despite wars or any political upheavals. Gold also helped preserve wealth through times of natural disasters. Ultimately, this would become the foundation of India’s passion for gold, which is stronger than ever today. This fascination continues to have an impact of the gold rate in India.

Means of Savings and Gifting
In the typical Indian’s life, Gold is acquired throughout their life as a means of savings and status. Thus is done and passed onto generations. 25 years ago, gold was the only form of savings in India. In India, tradition dictates that gold be gifted for for special occasions like weddings, the birth of a child, birthdays and special events. It is well known that gifting gold in Indian marriages is one of those “must do” things. So much so that many Indian families begin saving gold for their children’s wedding right after they’re born. Gold is also gifted to help out during hard times, acting as an insurance policy.

For Indians, Gold is not only an investment but a symbol that represents many of the things listed above. It is very important to analyze Indian investment demand when looking at gold on a global scale. For their demand not only affects the gold rate in India, but the price of gold worldwide.