- Date : 20/10/2022
- Read: 2 mins
53% of Indians prefer to invest in gold, and around 10% of Indians said they have invested in digital gold.
Awareness about digital gold is rising, and people are shifting towards the digital part of gold investment. People in metro cities invest in gold the most at 65%, then in FDs at 44%, and then in mutual funds at 37%. Females tend to invest in gold more than their male counterparts. It tells us how people believe in this precious yellow metal for investment. Reports also suggest that 58% want to invest in gold in the future, followed by mutual funds and stocks at 35% and 23%, respectively.
Let's See the Numbers
There are 15% of people in the age bracket of 18 to 24 who are interested in investing in digital gold. 55% of males and 45% of females invest in digital gold. There are concerns over trust, and 76% of people said they would only buy from a trusted brand. However, 54% of the people said they would purchase digital gold if there were a company that the GOI backed. To top it all off, people are increasingly becoming interested in digital investments. Interestingly, 24% of people have tried investing digitally in some form or the other. Out of the 24%, 28% were male and 19% female. Reports show that people invest more as they age. 67% of people aged 25-34 invested, while people in 35-44 years stood at 76%.
Factors Affecting Investment
The major factors driving investments are profits, tax savings, and security. Experts say that rapid digitalization has penetrated the major Indian cities, and people show its impact through investments. Digital investments are on the rise, and people need to ensure a supporting structure regarding safety and digital literacy. Digital investment is the next big thing in the investment world. Five thousand people of different age groups took part in the survey and had 52% males and 48% females.
Reports suggest digital investments are on the rise, and so is the purchasing of digital gold. Young adults are getting interested in investment daily, and digital forms of investment suit their needs. We are seeing rapid growth in the digital investment sector, and the sky is the limit for this industry.