India has been the largest consumer of gold for a long time. The love for gold is not just limited to its use in jewelry, but also for its value as an investment vehicle. The Indian people have been investing in gold as a safe haven for their savings for centuries. But, how did Indian gold become an investment vehicle?
In ancient India, gold was used as a currency. It was considered a symbol of wealth and power. Over the years, gold became a part of Indian culture and tradition.
The Indian people started using gold for religious purposes, weddings, and other auspicious occasions. The demand for gold increased, and so did its value.
In the 1960s, the Indian government faced a severe economic crisis and in response, the government decided to nationalize the gold market, and the Gold Control Act was passed in 1962. This act banned the private ownership of gold and restricted its sale and purchase.
This move led to the emergence of a black market for gold. In 1990, the Indian government decided to liberalize the economy, and the Gold Control Act was repealed. This led to the legalization of gold ownership and the emergence of organized gold markets.
JS Noor, a family business selling high-quality handmade jewelry since 1981, has been a part of this journey. The father-son team has seen the transformation of the Indian gold market and the emergence of gold as an investment vehicle.
Today, JS Noor sells not only high quality gold jewelry, but custom gold pieces that can be designed as an investment vehicle. If you are exploring holding gold as a store of value, please feel free to reach out to us and learn more about how we can support you in this.