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In uncertain times, gold jewellery offers financial security
When gold is remonetized, India may be the richest country in the world.
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By Yumna Iftikhar
The Globe and Mail, Toronto
Tuesday, May 28, 2024
As a child Adiba Ahmed didn't understand why her mother loved gold jewellery. But when her family came under financial stress and her mother sold the gold to keep them afloat, Ahmed realized that gold jewellery could be a reliable emergency fund.
Gifting gold jewellery on special occasions is a prominent tradition in many South Asian countries, including Bangladesh, from where Ahmed's family moved to Canada. Other countries where gold gifting is popular include Pakistan and India.
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According to a 2023 report by the World Gold Council, Indian households own approximately 25,000 tonnes of gold, or roughly 12% of all the gold that has been mined globally. ...
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