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Young People in India Are Buying Gold

Young People in India Are Buying Gold

schiffgold.com / BY SCHIFFGOLD / JUNE 29, 2017

Young people in India are buying gold.

Indians have traditionally invested in the yellow metal. Based on sales reported by a new digital platform in the Asian country, it appears the upcoming generation has embraced their elders’ love of gold.

The Indian digital wallet company Paytm launched Digital Gold in April. Company officials say they have sold around 100 kg of gold through the application, with a 100% month-on-month growth since its launch.  Paytm senior VP Krishna Hegde told the Economic Times of London that most of the customers are young people.

A majority of Digital Gold customers are within 25-35 years. Young adults are attracted to it owing to the flexibility and low ticket price it offers.”