subject: Indians Also Buy Fake Gold [print this page] India is the largest gold consumer in the world. Indians are fond of the gold jewelry because giving gold presents is considered a sacred gift in various religious celebrations. But people have started to buy imitation jewelry instead of the real stuff.
The fake jewelry is also known as fashion jewelry. Last year the demand for the fashion jewelry has risen with 10%- 15%. The major reason for this growth is affordability. Another important aspect is in this craze for the fake jewelry is the prime time soap operas. In the Indian TV shows, ordinary women are presented wearing beautiful long sari's and are full of jewelry even when they are doing household chores. The Indian newspapers have also created panic among women with frequent reports about men on motorcycles stealing gold chains and running way with them. These can only be some of the reasons why women have started to wear cheaper jewelry in everyday life.
India imports most of its gold used for producing jewelry. The most important supplier of gold is China and the items are produced in Mumbai, Jaipur, Kolkata, Gujarat and Varanasi. The value of the demand for imitation jewelry is still very low compared to the 700 billion rupee from the gold and diamond market.
The precious metal is important not only in India but everywhere around the world. Specialists advise us to purchase the yellow metal in order to diversify our portfolio. Gold is a good way of protecting our savings especially in these times of financial instability.
There are many ways in which one can invest in this precious metal. If you are interested in owning physical gold, then you should invest in gold coins or bars. Another good and safe way of owning gold is purchasing gold shares or account. It is really up to you how you decide to invest but the bottom line is that you should not hesitate.
