You're most likely looking for the gold rate in India. While trying to track the daily price action, the most effective method is to look at gold on a daily, weekly, monthly and quarterly chart. This will provide you with an idea of the current trend in gold originating from different perspectives. Gold is a major part of the Indian culture. This is significant when looking at the big picture. So, we'll learn a lot by watching how much investment demand is originating out of India. Now, we are going to look at the various factors influencing gold in India. Each one of these includes a direct impact on the gold rate in India.
India's affection for gold goes back thousands of years. There are not many, if any, cultures that possess the historic past as India does with gold. In India, gold is a long term investment in one's financial well being. Gold isn't only a part of the Indian culture. Gold falls into their belief system and it's no secret it is a major part of India’s religions.
In Hindu mythology, many of the goddesses are called golden, which is beauty defined. This is the status of gold being considered a sacred item in India. You will often see gold in religious functions; the reason being that gold is pure. Or, that Indians see gold denoting purity, prosperity and good fortune. When you look at western culture, you see a major difference. For example, in the United States, gold investors are from time to time viewed as weird or "gold bugs."
When you observe the Indian history, you'll notice very quickly that the Indian dynasties ruled various monetary systems throughout the years. But guess what served as the common medium of exchange or store of value throughout this time? It was gold. This was seen as important by Indians because personal wealth could still be preserved regardless of any ongoing wars or any political upheavals. Ultimately, gold was seen and still is as the ultimate store of value. This is what led to the foundation of India's desire for gold, which is stronger than ever today. This fascination has a significant impact on the gold rate in India.
Ways of Savings and Gifting:
When you're from India, Gold is acquired as a means of savings and status. This is a tradition that is passed on throughout generations. Twenty five years ago, gold was the only real way of savings in India. In the country, tradition is that gold should be gifted for special events like birthdays (especially a newborn), weddings and special events. You will almost always see gold given away at Indian weddings. There are a high percentage of Indian families who begin saving gold for their children's weddings right after they're born.
For Indians, it’s best that they start looking for gold rates in India, as it is not only a smart investment but an essential way of life. It's symbolic and representative of several of their core values. Because of all of these factors, it is imperative to monitor India's investment demand for gold. This is because its demand not just affects the gold rate in India, but the price of gold worldwide.
If you are in need to find current gold rate in India, the author of this article recommends GoldRate.asia.