It is an inherent nature of most people to prepare themselves for rainy days. They like to save a bit on the side from their monthly or annual income. Perhaps the main objective of every living soul is to lead a steady and smooth life. People invest their savings in valuable assets like gold, platinum, silver etc. such kind of investment has been the most profitable ones. One 22ct gold might invest in property and stocks, but these are also subject to economic downfall, and mostly do not acquire the desired value.
Gold jewellery has held a significant position in personal valuables throughout. It has also proved to return considerable profit. Gold prices are always on the serge, except for a few, and occasional dips. When economies are strong, gold retains its price. One can rely on only this asset to exchange for equal value.
Gold is an exceptional metal that has been used as an ornament, and an investment. In south East Asia, the dynamics of gold are altogether different. Surprisingly, the under-developed countries have a higher demand of gold to use as jewellery in the world. Gold jewellery had been passed from one generation to another not only as part of a family legacy, but also to give the future generation some kind of socio-economic security.
With the rise in inflation in everyday commodities, decline of property value, and stock exchanges all over the world, people are now turning towards exchanging their gold jewellery for cash. Selling gold when its price is skyrocketing is the best time to take an advantage. More and more people are losing their jobs.
Individual and corporate business has also received a major setback in the global financial crisis. In order to meet their immediate expenses, or to pay off all kinds of their loans might be one of the main reasons why people are selling gold for cash, like house-loans, credit card loans, or business loans.
According to recent bank policies, the interest rates have gone high. This has aggravated the problem of the people worldwide, because it is even more difficult these days to pay such hefty interest rates on their corresponding loans. Therefore, by selling gold jewellery, these loans can be paid back fully, or partially.
Another reason why people are following the trend of selling their gold jewellery is to have Indian gold jewellery reasonable liquidity in their bank accounts. The value of cash currency was never considered as important as it is nowadays. If the economic crisis deepens, then there might be a rise in situation when there would be no buyer of gold in the market. If that point comes then all investment made in the form of gold, might go in vain.
It is also becoming difficult for some people to afford the locker fees of the vaults where they keep their jewellery. They want to cut down all sorts of unwanted expenses, and to make the best out of what they possess.
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