Indian gold demand is firmly embedded in cultural and religious traditions.

The country has one of the most deeply religious societies in the world, the most widespread faith being Hinduism, which is practice by around 80% of the population. Gold is seen as a symbol of wealth and prosperity in the Hindu religion. The goddess Lakshmi, who symbolizes fertility, productiveness and prosperity, is said to have been bathed by elephants who carried pure water in golden vessels. She is depicted as a beautiful woman of golden complexion, dressed in gold-embroidered red clothes, with gold coins flowing from her hands. Since it is suggested that those who worship her gain wealth, Hindus consider gold an auspicious metal, which they like to buy or gift during religious festivals. The most important of these is Diwali, which marks the beginning of the Hindu New Year and usually takes place in October or November. Vng gi vai tr quan trng trong truyn thng vn ha v tn gio n , c bit trong n gio (Hinduism), mt o hi m 80% dn s n tn th. Vng c xem nh mt biu tng ca s giu c v thnh vng trong o Hindu. N thn Lakshmi, tng trng cho s sinh trng, ny n v thnh vng, c tm qua nc tinh khit m voi thnh ra t l vng. N thn c miu t mt ngi ph n xinh p c ln da vng, mc qun o mu thu vng, bn tay n thn c th chy ra nhng dng tin vng. Bi v vic tn thi n thn ny s gip bn thn hng s giu c, ngi theo o Hindu coi vng l mt kim loi mang n im tt lnh nn h mun mua dng hoc tng trong cc l hi tn gio. iu quan trng nht trong s ny l ngy l Diwali, nh du s khi u ca nm mi ca n gio, thng din ra vo thng 10 hoc thng 11. Akshaya Thrithiya, falling in April or May, has also become an important day to buy gold. Purchases on this day are considered auspicious (it is the third most auspicious day in the Hindu calendar). The association between gold and auspiciousness has been used in recent years to promote the idea of buying gold. Over the past five years, Akshaya Thrithiya has become a major goldbuying occasion in the South of India, especially in the State of Tamil Nadu, where sales have reached record levels. Since 2005, the idea has been promoted across the North and West of the country, which has also resulted in a significant rise in gold sales in these regions. Gold also plays an important role in the marriage ceremony, where brides are often adorned from head to toe in gold jewellery. Most of this will be a gift from her parents as a way of giving her some inheritance, as Hindu tradition dictates that the familys assets are only passed down to sons. The gold (and other gifts) the bride receives or her Streedhan (Stree meaning woman and dhan meaning wealth) mean her parents can make sure she is financially secure and enjoys at least the same standard of liv ing to which she was accustomed in her childhood. Gold is especially important in this respect as it remains directly under her control, whereas she may not be privy to the familys other financial affairs. With an estimated 10 million marriages a year taking place in India, wedding-related demand is big business. Much of this demand takes place in the wedding season, which falls between October and January, and April and May, though a good many purchases will be made wellin advance of the wedding.

Indeed, it is customary for the parents of a baby girl to start accumulating gold for this pur pose soon after the child is born. Ngy l Akshaya Thrithiya, din ra trong thng 4 hay thng 5, cng tr thnh mt ngy quan trng mua vng. Mua vng vo ngy ny c coi l tt p ( l ngy th ba tt lnh nht trong lch Hindu). S lin kt gia vng v "s thnh vng" ngy cng c ngi dn n s dng trong nhng nm gn y, lm thc y tng v mua vng. Trong 5 nm qua, ngy l Akshaya Thrithiya tr thnh ngy hi mua vng ln min Nam n , c bit l bang Tamil Nadu, ni doanh s bn hng t mc k lc. T nm 2005, tng mua vng trong ngy l ny pht trin mnh trn khp min Bc v Ty ca t nc, dn n s gia tng ng k trong doanh s bn vng ti khu vc ny. Vng cng ng mt vai tr quan trng trong l kt hn, c du thng trang tr t u n chn bng trang sc vng. Hu ht trong s trang sc ny l ca hi mn, cng nh l ti sn tha k cha m dnh cho, bi v n gio truyn thng ch truyn ti sn gia nh cho con trai. Vng (v cc qu tng khc) C du nhn c, c gi l "Streedhan" ("Stree" c ngha l ngi ph n v "Dhan" s giu c ngha) m bo i sng ti chnh ca c du v gip c du hng t nht mt tiu chun sng m c quen t thu nh. Vng l c bit quan trng trong lnh vc ny bi vng ny s trc thuc s hu ca c du, khng b l tuc vo ti chnh gia nh chng. Vi 10 triu cuc hn nhn din ra hng nm ti n , cc m ci l ngun cu vng rt ln. Phn ln nhu cu vng ny din ra trong ma ci, ri vo khong thng 10 v thng 1, thng 4 v thng 5. iu ny cng to ra phong tc tch ly vng ca cha m cc b gi khi a tr c sinh ra. Not all gold demand is allied with cultur al and religious beliefs. Gold is also viewed as a secure and easily accessible savings vehicle by the rural community, where around 70% of the population lives. Gold has the added virtue of being an inflation hedge. An investor who had bought gold in 1970, for example, would have been more than protected against inflation (Figure 3). Gold is also one of the limited ways in which Indian investors can diversify their currency exposure. This is because the Rupee is not yet fully convertible Indians are only allowed to hold financial assets in Rupees- where as they have been allowed to hold gold since 1990 when the Gold Control Act was repealed. Khng phi tt c cc nhu cu vng c lin minh vi cc tn ngng vn ha v tn gio. Vng cng c xem nh mt cng c tit kim an ton v d dng tip cn i vi cng ng nng thn, ni chim khong 70 % dn s n. Vng cn l mt cng c phng nga lm pht.