Gold is still a magnet that attracts millennials

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Gold has long been a source of interest for us. Pharaoh rulers of Egyptian civilization decided to be mummified and buried with their gold in the Pyramids around 5000 years ago.

Gold has long been a chief component of any healthy, well-balanced financial portfolio in whatever country.

Aside from being a symbol of wealth, gold was utilized by our forefathers as an all-weather investment technique to shield them from financial disaster. As a result, gold has become the preferred form of investment among millennials. It was an integral component of their cultural and economic existence.

The metal has shown to be durable and long-lasting, becoming more valuable as an investment option over time. Due to a variety of circumstances, Indians are nevertheless buying gold in greater quantities than ever before.

Why do millennials continue to favour gold as an investment option? Vidit Garg, Director of MyGoldKart, explains:

The World’s Largest Gold Market is in India.

India is now the world’s largest gold market; such high figures just show our country’s passion for precious metal. The recent financial crisis precipitated by the COVID-19 pandemic has reignited interest in gold, according to a study.

Demand for gold increased by 37% in the first quarter of 2021. Gold is a successful investment option for millennials due to its numerous options and ease of investment.

Various Investment Alternatives

Aside from cultural, economic, geopolitical, and pandemic factors, millennials are increasingly interested in gold because of its stability, ease of liquidity, low volatility, and constant demand. Investing in gold, unlike other investment options, has always been hassle-free in terms of transaction convenience.

In addition, over the last decade, a variety of gold investment channels have evolved. Gold Futures, Gold Coins, Gold Companies, Gold ETFs, Gold Mutual Funds, Gold Bullion, Gold Jewellery, and Digital Gold are all available for purchase today. As a result, gold continues to entice investors in the market of volatile options.

A Safeguard Against Uncertainty

During the peak of the epidemic, the financial crisis once again demonstrated gold’s value as an outstanding inflation buffer. It acted as a safeguard against the financial markets’ highs and lows over the last 18 months.

Gold prices have historically been the most steady during times of uncertainty and turmoil. As a result, it may be inferred that the metal has historically and continues to serve as a dampener in difficult economic times.

Road Ahead

Millennials continue to see gold as one of the safest investment possibilities. Gold investment has taken on different shapes over time, yet it remains as valuable as ever. It has recently become a hassle-free investing option for millennials thanks to new investment choices such as Digital Gold.

The stability of gold continues to woo new-age investors and represents a promising future for youngsters, thanks to its many alternatives, attractive returns, and shock-proof ROI.

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