Gold Demand in Indian Consumer Behavior Quiz
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Questions and Answers

What is the primary reason for Indian consumers' high demand for gold?

  • Availability of cheap gold imports
  • Influence of international gold market trends
  • Cultural and religious traditions (correct)
  • Government subsidies for gold purchases
  • What is the main reason for gold consumption during occasions like weddings and festivals in India?

  • Government incentives for gold purchases
  • Availability of high-quality gold during these times
  • Promotional discounts by jewellers
  • Cultural significance and traditions (correct)
  • What is the largest use of gold in the world market?

  • Industrial purposes
  • Jewellery making (correct)
  • Individual holdings such as ETF's
  • Federal/Central Bank reserves
  • What is the primary purpose of gold in aerospace engineering?

    <p>To lubricate mechanical parts and protect from infrared radiation</p> Signup and view all the answers

    What category does gold fall under in terms of consumer goods?

    <p>Luxury goods</p> Signup and view all the answers

    What role do cultural and religious traditions play in influencing Indian gold demand?

    <p>Cultural and religious traditions involving wearing of jewellery play a major role in influencing Indian gold demand.</p> Signup and view all the answers

    What is the primary use of gold in the world market?

    <p>Around 52% of the gold in the world market is used for jewellery, out of which 78% is used for making jewels in India.</p> Signup and view all the answers

    What are the major reasons for Indian consumers' high demand for gold?

    <p>The fondness for gold due to cultural and religious traditions, and the perception of gold as a status symbol and valuable investment.</p> Signup and view all the answers

    What are the main uses of gold in industrial purposes?

    <p>Gold is used in industrial purposes such as components in electronic devices, dentistry, medicines, and aerospace engineering.</p> Signup and view all the answers

    Why do people tend to buy gold as much as they are willing and able to purchase during occasions like weddings and festivals?

    <p>People tend to buy gold during occasions like weddings and festivals because it is considered precious and is a tradition.</p> Signup and view all the answers

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