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Who buys the most gold in India? learn

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People in the middle income group buy more gold and prefer to keep gold in physical form. The Gold and Gold Market-2022 report by the India Gold Policy Center (IPC) also said that people in higher income groups are interested in holding gold in digital or ‘paper format’ (per paper document), but its The total amount is still with the middle income group. The report states that households have an annual income of Rs 2-10 lakh, which is about 56 per cent of the average amount.

Therefore, they prefer safe investments – i.e. gold and gold products or safe government products like bank fixed deposits, provident funds, life insurance, post office savings, where the risk is minimal. For the middle and affluent class, savings are their surplus earnings, surplus money is passive and income on capital gains. So they choose to invest in stocks or stocks, derivatives and real estate.

The report on household gold consumption was prepared by a survey conducted by IGPC in collaboration with People’s Research on India’s Consumer Economy (PRICE). The survey was conducted in 40,000 households. The report further stated that the consumption of gold has not been affected by the ban or implementation of GST (Goods and Services Tax). It said that at least 74 per cent of high-income households have confirmed buying gold in the last five years.

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