In this presentation at the European Gold Forum 2016, I discuss why Indians buy gold and why gold remains so deeply embedded in Indian society.

Gold in India is not merely a commodity or an investment. It is savings, insurance, family security, cultural inheritance, and protection against weak institutions, corruption, currency depreciation, and political uncertainty. To understand Indian gold demand, one must understand the social and institutional environment in which Indians live.

Watch the full presentation below:

Key Takeaways

• Indian gold demand is rooted in culture, savings habits, and family security.
• Gold functions as protection against weak institutions, corruption, and currency depreciation.
• Many Indians distrust banks, government promises, and paper assets.
• Rural incomes, weddings, inheritance, and social obligations play a major role in gold buying.
• Investors should understand Indian gold demand through the lens of culture and institutions, not merely price charts.