India's demand for Gold.

 

Gold demand in India will continue to grow in the next decade. The steep rise in the price of gold over the lst 10 years makes it look like a bubble. However, there is a key factor at work. The rise of India!.  During this period, India's demand for Gold went up by 25%. India's demand for gold is expected to grow  by almost 3% per annum over the next decade.

"“The rise of India as an economic power will continue to have gold at its heart. India already occupies a unique position in the world gold market and, as private wealth in India surges over the next ten years, so will Indian demand for gold....“Indians tend to be risk averse and place great faith in the wealth preservation qualities of gold, which inspires confidence, stability and security. Therefore, the view that Indian demand for gold will be driven by the concept of enduring value, not price." - World Gold Council.

 

Gold Price over the last 40 years

Source: www.usagold.com

Warren Buffett on Gold: "[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

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