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Gold Demand in Indian Consumer Behavior Quiz

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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?

To lubricate mechanical parts and protect from infrared radiation Signup and view all the answers

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

Luxury goods Signup and view all the answers

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

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

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

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

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

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

What are the main uses of gold in industrial purposes?

Gold is used in industrial purposes such as components in electronic devices, dentistry, medicines, and aerospace engineering. 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?

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