We were talking in a comment thread about the long term prospects of Gold. Here is a definite headwind if it continues.
Gold is very popular in India. It seems to be losing its luster with younger Indians.
Big ramifications could take place over the next 20 years as this segment of the population grows in wealth and power.
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I agree with what you said in the other comment. I think gold's years are numbered now
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Yeah a couple decades and the demographics will be too overbearing.
That is unless technology gets there first, then we might see it happen sooner.
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Well with the change in how they are moving into crypto, I am not surprised. Do you know how their stock market investments are going?
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I dont follow the Indian stock market so I have no idea.
That might be a question to ask the Indians in here. Do they own stocks or strictly crypto?
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I am into stocks.
They are very lucrative if we know which company to invest into properly.
But not a huge population here is into stocks.
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I guess this is a question for @amr008 or @finguru.
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I am not into stocks at all but my wife is. Completely into crypto.
I have a local society whatsapp group for traders where you will find all sorts of mixes. People discuss stocks, crypto, and other financial opportunities which they try.
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Around 50% of India's population is below the age of 25 years. That's a huge chunk. Our unemployment is continuously shooting up, thanks to the failed governance and the pandemic. Everyone is looking for alternative options to make money. Crypto is gaining popularity because young people get it. It's volatile hence quite exciting as well.
Gold is considered a long-term investment in India. It is also popular because of its cultural & heritage value.
No surprise that it is losing its touch among young Indians and slowly its craze will fade away.
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