SEATTLE (Scrap Monster): The recent online survey conducted by YouGov Omnibus suggests that a good majority of urban Indians plan to spend on gold during the next three months. The survey was conducted among 2,021 participants from 17th to 20th of August, 2021.
According to the survey, nearly 28% of urban Indian youth population plans to spend on gold during the remaining months of 2021. This signals renewed appetite for the yellow metal. The demand for gold, which was badly impacted by pandemic-induced disruptions, had shown signs of recovery during early-2021. However, the demand fell on account of second wave of the pandemic across the country.
Nearly 58% of the respondents plan to buy gold for personal or family use either in the form of physical gold or through gold schemes by retailers. 38% plans to purchase gold for investment either in the form of physical gold or through various gold funds. Nearly 61% who wish to purchase gold for personal use belong to the age category 41-56 years old, the survey said.
Nearly 69% of the survey participants said that they prefer to buy gold during festive season, thus giving indications of boosted gold purchases during the upcoming Diwali season.