Indians and their love for gold is a match made in heaven. Here’s one such statistic that more than clearly instates the same.
Indians bought a whopping 611 tonnes of gold in 2021. World Gold Council released a new report pertaining to gold sales globally and here’s a brief look at the same.
As per the report, Indians bought 611 tonnes of gold in 2021, which is next only to China which attributed to 673 tonnes of gold acquisition.
In this report, it is mentioned that he middle-class community in India is more inclined towards buying gold as a future investment. It is reported that the middle-class community contributes in a sizeable manner to gold sales across the country.
The report also says the elderly population is more interested in gold acquisition as compared to the younger generation. The younger generation has more investment opportunities and isn’t entirely focused on buying gold as an investment.
80-85% of gold sales are through the ornament category with the 22 carats being the market leader. The sales of 18 carat gold is just picking up.