In India, Loan against Gold was considered orthodox and a taboo in households. Gold is considered to be at par with Deity Lakshmi, the Hindu Goddess of wealth and prosperity. People associate emotional values with a noble metal. Hence, Pledging Gold for a loan was considered not less than a sin, in our modernized India.
Gold has always been treated as one of the riches, a person or a family holds, not only because of the spiritual sentiments but also because of its monetary worth. The significance of gold can be estimated from the fact that it is one of the valuable inheritances which is passed on by our ancestors to us and by us to our future generations.
The mindset towards pledging Gold is gradually changing with individuals becoming broad-minded and considering availing cash for Gold over a loan. The Gold Loan Market has been witnessing an increase in business from the consumers and the industry. But general people tend to lose their gold due to heavy interest amounts which are difficult to pay from time to time. With gold soaring, people should prefer Instant Cash For Gold and acquire a decent valuation for gold.
In the recent past, an epidemic of Indian media stories has highlighted the rise in Cash for Gold segment and how more and more people are dismissing taboos to dodge their financial hurdles. Growth in Indian Cash for Gold Market has also been captured, talked about and appraised by people.
With an increase in disposable incomes and liberated mindsets towards life, Cash For gold market has an increased pace in the last decade. People are now more open and less hesitant to pledge their gold to meet their financial needs which were considered a taboo so far.
The Saving habits of the lower and upper sections differ from each other. The rich prefer investing their savings in various assets including Stock Exchange, Real Estate. The poor still prefer to invest their savings in the form of gold. Talking about the rural areas, people prefer buying gold and mortgaging it to local jewellers to meet their financial solutions which eventually leads to losing their Gold whereas the urban people prefer getting their Gold encashed instantly. With an increase in income and better standards of living, the significance of gold to the upper sections may have little but to the lower sections, the importance still stays intact.
Now that we have talked about today’s picture on Pledging Gold for Cash which is no more a taboo, rather is considered over loans by the Indian Market. We must pledge to fight our times of financial difficulties by grabbing opportunities of Instant Cash For Gold for the best value for our gold any day, any time.