The Impact Of The Covid-19 Pandemic On Gold _ What Lies In The Future - Aura Jewels
Gold is considered as one of the best and safest means of investment, giving better returns compared to any other asset. This is one of the main reasons why almost every Indian wants to invest their money in gold, may it be gold jewellery, gold coins, or gold bars. In fact, gold is so admired by all that it is shopped for on every big occasion like Diwali, Akshaya Tritiya, anniversaries, and weddings.
Has the pandemic affected the gold industry?
Just like everything else, even gold has been intensely hit by the Covid-19 pandemic! With the financial crisis that everyone is facing, the number of people shopping for gold regularly has significantly gone down. This is why the gold industry is also facing a downside. Only those who really need some new gold pieces are shopping for the precious metal; and in times of the pandemic, it seems like only those who have a wedding are walking into gold stores to make a purchase. The reason behind this is that with the limitations on the number of functions, guests, and other expenses due to the pandemic, people are opting to invest their savings (which they had earlier saved for wedding expenses) in gold, considering it the best way to retain the asset in the family.
What gold industry experts have to say
When gold industry experts were interviewed and asked for their thoughts and reviews over the situation, all of them agreed that the ongoing pandemic has affected everyone in the world, which is why the gold industry is suffering, thus the high prices. In fact, gold has always been the first commodity to get affected when any kind of calamity occurs. In every such crisis, and thus in the current pandemic too, gold prices have seen an upward move. If truth be told, looking at the current situation, and forecasting the future, it is expected that gold will possibly reach a tentative amount of more than Rs. 80,000 per 10 grams by the end of 2021!
Does that mean the gold industry will subside?
In spite of the pandemic, financial crisis, and rising gold prices, nothing seems to stop people from investing in gold, when they really want to invest in something. And, that’s because gold is a completely risk-free asset. Although it is really difficult to predict the future of gold, we can yet certainly say that gold is still the most popular option for investment. Nevertheless, with the financial crisis hampering the regular lifestyles, it becomes only obvious that highly expensive pieces of gold won't be preferred now. Even for weddings, people prefer to make a medium budget gold purchase. As per gold jewellery experts, the two most popular types of jewellery seen to be purchased for weddings are fine jewellery and temple jewellery. If you wish to make a wedding gold jewellery purchase too, you can walk into Aura Jewels to get the best jewellery designs, may it be the popular fine designs and temple motifs, or anything else you wish to wear. You could buy from the readily available designs, or have your own unique design customized from talented designers at this trustworthy customized gold jewellery shop in Bangalore.
