What Gold Buyers Need To Know About Indian Wedding Season
Gold has been used for thousands of years to store and preserve wealth through civilizations across the globe. For millennia, it’s been the most secure way to store riches and protect it against war, theft, economic collapse, and inflation. Today, gold bullion is still used by investors to protect against inflation and the bear markets in stocks. While it’s not often talked about, and because gold is a commodity it’s not immediately apparent, but at least once a year gold faces a predictable pattern: in the early fall, gold always seems to get a boost and stays supported for a few months.
Other economic factors can impact this, but it’s a reliable pattern that gold investors regularly benefit from. The reason this happens is Indian wedding season, which runs from October to December, and it’s the usual culprit when gold prices see a rise in September. India is one of the largest buyers of gold in the world, with demand for gold jewelry at 514 tonnes last year and predictions that it would rise this year. India alone accounts for nearly a third of the world’s gold demand and it’s the largest consumer of gold jewelry.
Traditional Indian weddings involve a lot of gold, particularly when it comes to the bride, who is draped entirely in gold. Preparing for Indian wedding season means private individuals are buying lots of it. For the most part, this is gold bullion jewelry – 22 karat jewelry that’s very close to bullion. Savvy investors know to buy gold in the summer to prepare for the price increase, whether they plan on trading it after or not. According to research from the Moore Research Centre, in the last 15 years, gold investors would have profited 80 percent of the time if they bought on September 15 and sold on October 8. Keep those dates in mind for next year when you’re investing in gold.
Indian Wedding season is just one of the many factors that affect the price of gold and it never hurts to read up on all the trends and economic factors. You can find plenty of information on the Silver Gold Bull blog and on other online resources.
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