Price No Bar as GenNext Buys Gold
Source: Indian Express (3/21/11)
"Penchant for gold jewelry amongst younger generations in South India is generating high demand."
"Gold buying trend in south India is changing with times as the younger generation is more inclined towards light and modern jewelries, which has been in demand more in northern states," said Sumesh Wadhera a gold expert who is running a specialized magazine on the sector.
Gold demand in South India, the highest consumer in the country, is unlikely to be deterred by high prices of the yellow metal.
"South India consumes 45% of gold in India. High prices may not affect demand as the trend of buying light jewelry [is engrained] in southern states," Wadhera, publisher and chief editor of The Art of Jewellery magazine, said.
Wadhera also noted that South Indian consumers are more conscious about buying quality gold with certified "hallmark".
This, he said, has encouraged leading jewelry shops to voluntarily take up hallmark licenses, though it has not been made compulsory by the government till now.
Wadhera further added that sale of gold coins and bars in terms of investment is also picking up in South India.