Why is Indian gold very yellow and where does it get so much from the women there?

Every year India consumes about 700 tons of gold for its needs. Thus, in terms of the consumption of this precious metal, the country ranks second after the main driver of the modern world economy - China. A substantial part of India's conditional "gold reserve" is in the hands of citizens. Of course, gold owned by people is distributed extremely unevenly across the population. Nevertheless, the women there are still the most gilded in the world.

Where does so much gold come from in India?

Jewelery is a highly sought after industry in India. | Photo: mir-da.ru.

As noted above, India is the second country in the world in terms of gold consumption. At the same time, it ranks fourth in the world in terms of the level of import (import) of gold. In 2019, the country acquired $ 32.1 billion worth of precious metal. The country itself today produces only 2-3 tons of precious metal per year (for comparison, market leaders produce 300-500 tons of gold per year). At the same time, in 2020, geologists of an Asian country found gold reserves in one of the provinces, which are almost 3 times higher than the available state reserves.

Interestingly, the Indians hold from 9 to 11% of all gold in the world. Of course, poor people have very little, if not none at all. Nevertheless, even poor families try to buy at least small gold jewelry. Largely for this reason, India has traditionally been among the main consumers of this metal. Hindus have a special attitude to gold. Until now, the metal is endowed by the people with magical properties. Since ancient times, it has been considered the material of kings and gods.

Of course, in addition to the magical and religious meaning, gold is a banal "hard currency" for Indian families. That is why jewelry is bought as a savings deposit for the future, as well as as wedding gifts in the form of a dowry. In addition, in India, the purchase of gold by ordinary people does not require reporting to the state: there are no taxes on jewelry in the country.

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Why is Indian gold so yellow?

Everything is extremely simple here. Every precious metal has a fineness. Most of the gold that goes by the hands of the population in Europe and the former USSR has a fairly low purity. For example, in the USSR, most gold jewelry was made from 14-carat or 583-carat gold. In India, however, most of the jewelry is made of 23 carat or 958 gold. It is this circumstance that determines the characteristic bright sunny color.

If you want to know even more interesting things, then you should read about Soviet realities that used to be in almost every courtyard, and now you hardly see them.
A source: https://novate.ru/blogs/260621/59539/

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