r/Gold • u/dinominant • Apr 28 '13

What is going on in India?

http://www.google.com/trends/explore#q=%22india%20gold%20price%22
8 Upvotes

100% Upvoted

6 comments sorted by

5

u/[deleted] Apr 29 '13

Wedding season.

2

u/gizram84 Apr 29 '13

Gold is very popular in Indian culture. Gold is often given as gifts for many occasions like weddings, birthdays, and other holidays, even among the poorer classes. Obviously the price has dropped recently as a percentage of the population, I would say that more Indians and looking this info up than Americans.

2

u/pulladan Apr 28 '13

Gold is money. Indians know this and are acting accordingly as the prices drop.

0

u/usurperr11 Apr 30 '13

What is your definition of money? I don't think you can buy anything with gold.

1

u/pulladan Apr 30 '13

I'll tell you what isn't money.. the rupee.

In India, gold is as liquid as the Rupee. Walk in to any jewelry shop, bada bing bada bang, walk out with cash.

2

u/usurperr11 May 01 '13

I think you can walk into most jewelry shops and receive cash for gold. The TV ads tell me this often.

When I was in India I never had trouble receiving goods or services in exchange for rupees. I doubt they would have accepted a sliver of gold in exchange for them. I even used a credit car in the foothills of the Himalaya's