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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (5011)7/8/1999 3:40:00 PM
From: Shivram Hala  Read Replies (1) of 12475
 
> The Indian demand for gold is also linked to the institution of
> marriage.

Tradition, yes. But it is an imperiled trend. Indians are making a big mistake by continuing to hoard gold while the rest of the countries are selling their reserves.

> For centuries gold has been equated with money, savings, riches and > status in India, and family heirlooms alone may account for more > than half of the country's holdings

That's the fascination and the main factor for a lot of people is that it can be used during the hard times. Socially people should become aware that gold is nothing but a metal and instead of piling on gold for wedding, should give that money so the newly weds could use it. With more spending that will only spur the economy.
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