Extremely high government tariffs are blamed for the slump in Indian gold demand in 2013, which allowed China to surpass India as the world’s largest gold consumer. However, there has recently been talk of easing India’s gold import tariffs, which might trigger another surge in demand for the yellow metal. Even National Public Radio has taken notice of India’s love of gold. This story, from NPR’s Morning Edition, takes a look at the vital role the yellow metal plays in the culture as a form of wealth preservation, particularly for women. Wouldn’t it be nice if Westerners had such a implicit understanding of the value of real money?
“Her stockpile of gold earrings, rings, necklaces, and hairpins is lavish but also reflects the centrality of gold in an Indian woman’s life. It’s given for pregnancies; at births; when a baby first eats solid food. It’s engrained in the cultural lexicon.”
Listen to the Full Story Here
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A Glimpse into India’s Gold Culture (Audio)
Extremely high government tariffs are blamed for the slump in Indian gold demand in 2013, which allowed China to surpass India as the world’s largest gold consumer. However, there has recently been talk of easing India’s gold import tariffs, which might trigger another surge in demand for the yellow metal. Even National Public Radio has taken notice of India’s love of gold. This story, from NPR’s Morning Edition, takes a look at the vital role the yellow metal plays in the culture as a form of wealth preservation, particularly for women. Wouldn’t it be nice if Westerners had such a implicit understanding of the value of real money?
Listen to the Full Story Here
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!