Can you distinguish between a 14,18,22 Karat Gold ornament ? I can't.
I ask the question to many of my friends and most of them tell me they can't either just by looking. ( Honestly I can't even distinguish the different varieties even if I feel them ).
That said, we all know that India is the maximum consumer of Gold in our World today. And Indians never go near what is branded as less than 22 Karats.
How many stores in India sell authentic Gold ? I've heard and read a lot that most of the Gold sold in India is only 18-21 Karats..though they are branded 22 karats.
I know there are a few stores like Tanishq who have an instrument to check the quality of Gold , not sure if it's available everywhere.
My questions here:
- Why are Indians still crazy after 22 / 24 Karat Gold ?
- Will Indians ever come out of this Gold craze ?
- If India reduces Gold consumption will the prices fall ?
- Would that be a good thing ?
PS - I hear and read about a lot of breakins into Desi homes here in the USA because it's common knowledge that most have a lot of Gold !