Significance of Gold in Indian Culture

Importance of Gold in Indian Culture and Religions

Many people think that Indians are gold crazy. Though this statement cannot be completely denied the truth is that Gold always had a special significance in all ages. One may recall that Gold was one of the three gifts given by the three wise men on the birth of Jesus according to the Holy Bible. There is also mention of the golden calf for idol worship and a statement that Abraham was rich in gold. It may also be noted that the Hindu God Brahma is referred to as Hiranyagarbha which means born of gold as he is born from the cosmic egg of gold. In Hindu mythology, some of the gods and goddesses are described as golden hued with reference to their beauty.

The importance of gold can be understood in the saying all glitters are not gold. It also can be noted from the way events or achievements are named like golden anniversaries, golden jubilee, gold medals, gold credit card etc. In India people buy gold anytime and not only during special occasions like weddings, festivals or special events. Gold is also offered to Indian deities. The Indian Hindu calendar even has auspicious days to buy gold like Dhanteras and Dassera. Gold is also bought on festivals like Onam, Pongal and Durga Puja.

Significance of Gold in Indian Culture
Significance of Gold in Indian Culture
Gold Coins in Pouch
Gold Coins in Pouch
Hindus invest on Laxmi Gold coins on Festivals like  Dhanteras and Dassera.
Hindus invest on Laxmi Gold coins on Festivals like Dhanteras and Dassera.

Reasons why People Buy Gold

Though gold has several applications or uses, the main reasons why Indians take to gold are

1) Gold is considered an equivalent for liquid cash: Gold is highly liquid and portable as a Security or Asset. It can be converted to cash anytime when an emergency arises and is considered a friend in need.

2) Gold is considered as Status Symbol: Especially in India gold symbolizes wealth. In Indian weddings the gold the bride brings in show her family's status and wealth and forms part of the dowry given to bride. It is believed that a bride wearing 24k gold on their wedding to bring luck and happiness throughout the married life.

3) Gold is a very good investment: Gold is an asset which has consistently increased in value and thereby considered as a safe and secure investment. Gold is considered an effective diversifier which helps to reduce portfolio risk.

4) Gold is considered as a good gift item: It's precious and worthy across all cultures and times. The gold jewelry is given as gifts during weddings, festivals and other special occasions.

5) Gold has great religious significance: Gold is the symbol of the Hindu Goddess Lakshmi and considered highly auspicious. Gold is brought or presented on festivals like Dhanteras and Akshaya Tritiya. Toe rings are never made of gold as it represents the goddess of wealth and should not be soiled by touching a human's feet.

6) Great Ornamental Value: Who can resist gold Ornaments? Women of every age and time have always loved wearing gold ornaments. Moreover, Gold Ornaments are never out of fashion. It also may be remembered that Wedding rings are also traditionally made of gold to mark a long lasting relationship.

7) Great value as Heirloom: Gold jewelry is something which can be passed down from one generation to the other as ancestral property.

Isn’t this why people say Gold is forever?

Gold Prices in India for the last 86 years

An old friend of mine posted this information on Gold which I thought is very relevant. The Gold value in INR (Indian Rupees) is given for different years.
An old friend of mine posted this information on Gold which I thought is very relevant. The Gold value in INR (Indian Rupees) is given for different years. | Source

Top 10 reasons why indians love Gold

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Comments 13 comments

srikanth 4 years ago

Govt is in huge

profits with the hike in price in last 5 years.


Anamika S profile image

Anamika S 7 years ago from Mumbai - Maharashtra, India Author

Thanks for the comments Lgali and soni2006. You are right Soniji,many modern woman prefer diamond to gold these days.


soni2006 profile image

soni2006 7 years ago from New Delhi, India

Yes many old people still in India are really crazy about gold but the much younger generation is looking out for diamonds. I have a big circle of friends and when I discussed the same thing with my friends that what their wife's prefer currently, diamond or gold, and 80% of them said diamond but then also different people have different views. It might be possible that what my circle of friends like, any other person's friend do not like.


Lgali profile image

Lgali 7 years ago

thanks for this nice and gold hub


Anamika S profile image

Anamika S 7 years ago from Mumbai - Maharashtra, India Author

Thanks dohn121 for the nice comments. But i still feel that Indians are more crazy about gold.


dohn121 profile image

dohn121 7 years ago from Hudson Valley, New York

Great Golden hub, Anamika! You could say the same about the rest of Asia in general. Gold is a great investment and in times of need can easily be sold or pawned off (borrow from the pawn-broker) for cash. Thanks.


Anamika S profile image

Anamika S 7 years ago from Mumbai - Maharashtra, India Author

Thanks for the nice comment Shalini

You are right Surendra. Gold has several applications including the usage in sweets and dentistry. But that are not the reasons for a normal Indians fascination for Gold.


Surendra 7 years ago

Very good blog about our obsession with gold. You have probably missed out on eating gold-leaves ('wirk') because due to high gold price it is hardly seen.


Shalini Kagal profile image

Shalini Kagal 7 years ago from India

How true, Anamika - it's so ingrained in us to collect or give gold, isn't it? Looking at the way the economy is in most parts of the world, maybe it's a good thing!


Anamika S profile image

Anamika S 7 years ago from Mumbai - Maharashtra, India Author

Yes, Many people look at gold as an investment or security. Thanks for the comments Maheshji.


CEN7777 profile image

CEN7777 7 years ago

Yes,Gold jewelry is the only way to protect against depreciation of Indian currency against dollar, euro pounds etc.


Anamika S profile image

Anamika S 7 years ago from Mumbai - Maharashtra, India Author

Thanks for expressing your Opinion Kmadhav.


Kmadhav profile image

Kmadhav 7 years ago from New delhi

In india most of people gold considered as Investment. Price of gold in last 5 years continuous increasing. Great option for investment. Risk is involved only to theft of this.

People buys gold from religious and fashion point's of view also.

Otherwise great points you wrote.

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