"No gold, no wedding," is a saying in India, indicating the importance of gold to Indian culture and tradition. Byron Pitts reports on India's obsession with gold.
its actually mesnt for use at economic crisis as price of gold will never change.....its just a techniwue to connect everything with taboos and god so that ppl fear god and follow those taboos and that could help them later
I've had an obsession with India since I was 8. My mom bought me the Madam Alexander dolls. 1 each year, from a different country. On my 8th birthday, I got India. The silk dress, the gold...it was beautiful. So many little trinkets, on such a tiny doll. I still have them. India...is still my favorite. And the ladies are correct...gold is an investment. It's not throwing money away. It's like trading in your dollar bills for a 100$. You still have your money.
@Hector Rahil Gold bullion is an investment. Jewelry, however, is a waste of money. Ever try to sell jewelry? You're losing 5/6th of the money you spent to buy the damn thing.
In buying gold jewelry. The secret of getting more gold on jewelry is to buy the simplest design since it doesn't require other metals. Like jewelries with precious stones they need to add silver so that it can hold the stone.
This gold reserves helped us in pandemic, our ancestors were right about investment in gold, that's why we have developed this tradition to prepare for these recessions. Jai Hind Jai Bharat 🇮🇳
@@abhishekgurjar5324 haa bhai its true. pandamic se micro & small enterprises ko bahut luksan hua hai. Agar number ki baat ki jaye to akele banglur me karib 55000 chote hotels , dukan band hue hai. shayad ab gold hame bachale.
I'm not Indian. I'm Mexican and I love gold!!! We also start buying gold at a young age. I remember being young and my parents always buy me gold. And you should keep your gold for generations to come.
My family is from Guatemala and my mom has been buying me gold since I was a child. Even my Indian boyfriend finds it a little strange because I am always going out wearing so much gold. He's more simple. He prefers silver.
The funny part is, at least their spending their money on something that holds it's monetary value. You really can't be 'broke' spending your money on gold when you think about it.
You know aesthetically speaking, gold goes well on Indian skin, whether they are fair or dark. Gold, paired with the colorful Indian clothes is a pretty combination.
@Tangent of circle. who said? middle class also has much gold...i myself belong to middle class bit have visited and bought many times....do not spread wrong liew
Here's some Indian history for you guys. Jewelry is passed down from generations to generations. It's something to keep to remind of their family and that is why Indians don't sell their gold but instead pass it down from generations to generations. The reason why they care about gold so much is because of their astrology culture.
After reading some comments here,i would like to clarify some misconceptions or stereotypes. No gold,no marriage ...not true.Most indian men/women don't buy gold for show off but as a good investment.The parents usually gift gold to the bride because if she needs money in future,she can use the gold.
You may want to wear and flaunt your gold in India but in most parts of the world, the more you wear and flaunt your gold, the more likely you're gonna get robbed.
That's true in india too, u have to be a little careful when u walk on roads wearing gold, robbers will rip it away while riding motorbikes, they are called "chain-snatchers" in India
I'm swiss and i never got robbed, except for the bike i did not lock. I once lost my wallet at the victoria station in london and someone called me and got it back to me and didn't even want money for having brought it back. Maybe I'm just too lucky xD
Check out London today. Asian households are burgled like wild fire. Brexit has changed the situation. London has become unsafe and safe heaven or burglars. Government is too poor to provide funding to support police and resources. Times have changed my friend......www.bbc.co.uk/news/world-asia-india-42219772
Officiallygabby Dawson lol. Thank you. Hip hop , R&B , rap etc. are gaining steam in India and Asia. American Black culture has immense influence all around the globe. It's changing things ( cultures) worldwide. You guys should be proud of that. I can't help , but say, what I see is black folks aren't good at economizing their culture, make money off of it. That's not necessarily a bad thing, as we don't want to use our culture to make profits but I believe it's a missed opportunity for you guys. Whites have exploited it , like they do other cultures and sell goods and music as " American" worldwide to make billions. No offense. Also , not hating on white folks.
LOKESH aman why do you feel the need to tell me that ? Is it because I happened to be born African American? Listen I didn't get to choose what ethinc background I was born. What other people has done to my culture or to your culture In the past is dead now so we are responsible for our own actions and own future. I just watched this video to learn and appreciate your culture. I spread love not hate. Hate takes to much energy .
Officiallygabby Dawson I am not hatin. I said I appreciate your culture. I am not a judgemental person , I just gave an opinion. I am sorry if I have offended you, wasn't my intension. And yes , I was out of line for talking about my perception and commercialization of culture. Not my place to say. Apologies.
we all should keep much gold with us,not only indians.....imagine global economy crashing like it hapoened in 70s,ur whole lifes savings will just be worth for a loaf of bread.at that time also,gold will have fixed price,u could exchange that gold for modern rate and live normally at that time also
I am from America and my mom passed down her engagement ring that is 14k gold. Americans ESP brides want diamonds not gold. I was proposed without a Diamond and I still said yes because like in India something passed down in my family to me that is gold I treasure. The ring is over 100 years old. We are also getting my great grandmother and great grandfathers wedding rings also 14-18k gold. Gold is special.
frankiexfantastic Great. It can also change colour of your skin according to your body temperature. In India it is 22K more bright yellow and little soft.
Don't buy diamonds, it's a scam and an extremely aggressive and successful marketing campaign. U don't wanna buy something which loses it's value over time, gold proved it time after time that it is the most safest investment. Also scientifically speaking diamonds are nothing but a crystal made of carbon which is the most abundant material on our planet. If tomorrow any manufacturing process comes which can make diamonds extremely efficiently then all your diamonds economically will be worthless, whereas u can never make gold efficiently and u need a supernova to get gold
gold is also important for mexicans. I got a bunch of gold jewelry when I was born. My parents kept buying me gold jewelry throughout my childhood. I guess its just a old tradition.
Same for the Chinese and Vietnamese. Im Chinese American but my parents saved up for gold since the day I was born. I have gold jewelry that are in safe that I will be wearing my wedding somedaym
sxystar41 My ancestors were from China. My parents has gold jewelries but I never got to see or touch the gold jewelries. I didn't see or noticed any of my older siblings and cousins wearing any gold on their weddings especially for the bride. The brides I've seen only wore our traditional outfits in which is made with our fabric designs with real silver coins attached and all around. It's very heavy and would feel like a ton of weight on you.
LOL. America's obsession with diamonds is only with billionaires. India's obsession with gold is with rich, middle class and poor. It is the Tradition and culture we are talking about.
Once the Brits left , it seems India banned hunting wild Animals for Pleasure - a most despicable form of 'leisure' advertised as 'sport'. On the other hand African countries are busy selling out their wildlife so cuntwipe pansies like the Bored Dentist from the US Midwest can feel like a 'Man' by the cowardly act of killing an animal safely and securely tucked away and escorted by "guides' from (the safety of) their air conditioned 4WD SUV.
GOLD IS GOOD/HOLY.... THEY ARE SMART, As long as you have Gold YOU HAVE $$$$$$ If the dollar disappears, You can trade gold, It will NEVER LOOSE IT'S "POWER"
Ironical they make a documentary about the indian gold and yet forget how the europeans robbed them of the same The show the 2 sides of spectra but forget to show their multi billion dollar houses and people living in dumpsters instead of gold they value real estate and cars more Dont judge what u can't comprehend
My mom tends to buy jewelry worth $2000-8000 every time she visits India every 2 years. To me, gold is pretty worthless. I tend to value things based on utility and necessity. If something useless is in limited quantity, I don't care too much about it.
Bathtub Shark I'm sure she goes to reputable stores and knows how to test for purity. My parents hardly get scammed because they know what precautions need to be taken.
BRBallin1 teach me. if you get a chance. Could you ask your mom for me about a gold symbol? its a picture of a sun shining and starts with a letter T and the rest is scribbled. My friend got a similar one, im reckon its a gold company. yeah i love gold, but some are just too thin.
Kazu Tama True, but at least a car and a PC will be used daily for many years whereas gold is just sitting idle. Gold price has seen a pretty large drop. I remember it was $1700 at one point and now it is $1100. It's not any different than saving your money in the bank.
those two dont represent of what our culture is, but sadly thats true many women feel the need for buying gold from a very young age, rather than investing in other things,indian families feel the need for hoarding money ..thats it..look at our temples.. trillions of rupees just sitting
Mohammad Iqbal its wedding , just get over it . many CULTURES spend huge sums on weddings. And to you - getting married to more than one wife doesn't speak about celibacy, killing people who don't conform to your religion doesn't speak much about abstinence from materialism either
jignesh das its not only women.when a girl gets married even if she would want a simple marriage with simple atire and nominal or no gold,the boy's side would not agree.we are a patriarchal society, boy's side dictates.
gold is powerful and gold's value never decreases which is the reason why others are so crazy about it. the stock market crashes, debt is inevitable but gold will always be gold. it's highly valuable
part of this is deceptive journalism, altering facts to suit his points... when he asks the woman from the monthly scheme how many of those credit card size gold packets she has, she has 15 ( i speak malayalam) , but when translated to english, he says she replied she has only 1.
you spend $200,000 on gold, and the people who are preparing the food get $2 a day. people would still attend your wedding if there's no gold, But they will not show up if there's no food. unfortunately, we set the highest values on the most irrelevant things.
+HeZ Davis that's actually not true he grossly overstated abt that 200,000 dollars its even less than 2000 dollars; this was one exceptional elite wedding that they picked out
+HeZ Davis Thats what presenter wanted to pretend....India went to mars Westerners just living in dreams & bitching on poverty, Tell me Being rich is crime in India ? Your white tribe is responsible for their poverty....your white tribe robbed wealth/city/savings/every thing they posses. Even queen of England Shamelessly wear stolen Diamond....Don't worry few more years we will put whole Europe/America on their knees ~
+HeZ Davis you do realize that we support an extensive group of communities through a marriage right? we help feed all of them for that day and apart from that we provide a livelihood for every single person who worked for that occasion. Perspective, my friend..
ahahhahaaa !!! at 9:57 when he asks her how many gold coins she has she replied in malayalam "pathinanchu" which means 15 !!!!! and then the translator says ONE !! at the present conversion rate .. if she sells it she'd get 560 dollars minimum. not bad ! that's Indians deal about gold. resale value. it's an investment. banks give you gold loans .. you give your gold you get a loan. in times of emergencies or weddings you have ready cash that you can wear and impress the neighbours and in-laws in more favourable times. it's not a very nice thing though when you see girls being tortured, killed and living with daily taunts or worse not being able to marry for the lack of this yellow metal. it's sad. parents don't spend on anything and save up all they can from the moment they hear it's a girl child. which brings us to female infanticide. full circle. the vicious circle of a yellow metal.
+Sharon Sam You need to study economics. Investment in gold is not good for India as it devalues rupee and increases inflation. India doesn't produce gold anymore since all our mines are empty, so we have to import from abroad, which strengthens dollar and makes rupee weak.
Sid Siva Nope, you're wrong. She's a Malayali(Beena babu) & she spoke in Malayalam with a Muthoot finance card in her hand. The word 'Pathinanch' is common to both Malayalam & Tamil. The State of Kerala is the largest consumer of gold in India & it has some of the biggest & densest gold markets in the world.
Asian wedding is all about gold. Gold represents prosperity, happiness, luck, and financial security. Thailand and Indian weddings are the most phenomenal wedding in the world. If you have a chance to attend to their weddings, you will understand why they are worth it. Please do not invite Caucasian or other ethnicities unless they know the Asian wedding tradition. Plus, most Caucasians and other ethnicities feel that giving $200 at the wedding party is too much unless they are financial stable or rich.
@@bostongirlsandy Franks are not 'devoid' of colour. If they were they would be blue. Biracial people where one or both parents have frank ancestry are part/full frank or as you would say white.
7:46 there is no chance of going gold prices down. If gold prices will go slight down, here in indian market people will start buying gold. And it will go up and up. With increasing indian middle class i don't think gold will ever see decrease in its price.
Adding 1 point. In Indian homes you never sell Gold. Unless calamity has hit you and even then you mortgage it with 100% intention to get in back after repaying. Thats what Gold means to us Indians. Every average middle class house will have atleast 50 to 100 Grams of Gold and buy 5 to 10 Grams more per year.
brother when your ancestors didnt knew the value of gold...since then we indians are hoarding gold....though britishers looted many of our gold and precious stone (for example-the queen still flashes the diamond kohinoor stolen from india) our gold is still plenty to cause economic crisis in the world. Indian household have more than half of the gold ever mined (as per world gold council).
This segment should have explicitly mentioned the following. Gold in India is used like paper money, albeit mostly for long term purposes. Both are NOT used for their intrinsic value. They have their value only because people believe in them. People all across India value gold, that is where it gets its value from. It is no more or less ridiculous than believing in the value of paper money. Look what happened in Zimbabwe, because of hyper inflation paper money became useless and the currency collapsed. In America, people trade in stocks. Indians view land (or property) and gold as the two biggest investment wants. As opposed to property, gold is more tradable and divisible. And it makes all the more sense because of high inflation and fluctuation in prices, currency isn't that valuable. So to make it simply, gold = long term currency in India. Name me one country where people don't crave currency. But as shown in this segment, it is important to note that people usually crave gold for the status it brings rather than its investment value. It also is intrinsically tied into the tradition of a wedding. Women didn't (or still don't) get to call the shots at home. So gold (which usually belongs to the woman) comes into play as a source of economic security. An important force in keeping the power equation steady.
are you a journalist? cuz you're doing a great job at it! those are top notch facts. Gold has been around for centuries and the value of it has always been so versatile. trade it, physically use it, use it as payment, etc. gold is worth an investment and in the long run, you wont run out of uses for it
+Timothy Thomas " It is no more or less ridiculous than believing in the value of paper money" I don´t believe that, paper money is ridiculous and based in unpayable debt, gold is not ridiculous it´s just the most perfecgt form of money any one could use.
In kerala's swami padmanabhan temple ,there are 17 billion dollars of gold & one vault is still left to be opened.It was kept hidden for centuries.And there are many temples like that.
Please....why do you think china is running to Africa. All currency is going to callopse, gold and silver will be worthless. Water, food, medicine and natural resources are the to go. Land, water, farm, livestock are the ways to go.
Dont know why we Indians are sheepish and think we need to hide something (thinking its stupid), when Americans ask us questions. They are just curious. You need not say things like "Try explaining it to an Indian" or "Its our culture". Just say it gives safest returns and seen as one of fastest in terms of liquidity for loans etc! If it doesnt have any profit, why do you think there are so many instant Gold loan companies? Are they doing service? Does Gold value drop ? Yes. But its not an intra day share! Its kept for a future need and Gold always has increased in price! There is nothing to be ashamed of! Infact India's investment in Gold and small savings was lauded by financial analysts around the world after the Lehmann brothers did their thing!
yeah but when poor families save money for their daughters to get married and buy gold rather than have toilets set up ..thats the problem... these families cant even buy proper sanitary pads but would prefer buying gold
jignesh das Thats a shallow comparison. For them, defecating outside is not an issue because they are used to it. But whats more important for them is if there is some financial help, neither you nor me is going to help them. Only gold will help them. Sometimes you need to think from their perspective than applying your logic for their life.
only gold will help them!! fine educated person you are , only proper education can help anyone. You think those farmers who commited suicide didnt have gold. They put that on loan and the bank gave them a meager amount of money for that. to all those rich people out their they need to understand that once upon a time gold was a home based industry in india but now we have no gold metal in our mines. whatever we are buying is brought from foreign industry you are giving your hard earned money to outsiders .
America doesn't know what is actual money. Non americans should keep it secret from americans and europeans that gold is a real money. I promise you, Oneday no one will exchange goods with paper money.
Tsetsi three days from today. its a religious festival called dhanteras, 5th November this year. You can Ask an indian friend or look up hindu calendar online.
+Mocha Gypsy moreover we Indians believe that Gold will give us astrological benefits also. Gold is symbolic of 'Sun' element in Indian Vedic Astrology, which brings prosperity and stability.
Indian wedding isn't about sitting in a church and hearing a priest read the bible. There is dance, colors, food, celebration, fireworks, music, lots and lots of guests, and a union of not just the bride and the groom, but two families.
Montu shah, and who told you we only "sit in a church and hear a priest read the Bible? Our weddings are also filled with dance, gifts, delicious foods, brides maids, grooms men, dances, father daughter dance, mother son dance, family/friends we love, their great wishes written in beautiful card, colors the bride chooses, or both, flowers, cutting the cake, etc. And btw, hearing the Bible read is very, very sacred to those who believe in a higher being, because marriage is a sacred union, besides the union of two families. Long story short, respect other people's cultures, just as you'd like your own to be respected. Educate yourself.
I'm an Indian and love the diversity of gold jewellery in India, its beautiful and breathtaking, cant find it anywhere else. Reason for gold fixation amongst us is economic - Indians know the value of gold, which is now getting lost with youth who are living in much better conditions with no war or famine, the lack of understanding is displayed by interviewees in the video, only sane person in the entire video is the gentleman at 11:56. There is a reason why all countries since time memorial fought for gold and keep their reserves in gold even today. The person who made the video and most of the world always misses the crux of Indian culture. Yes, it is a culture but every thing Indian - gold, spices, yoga, etc. - has an economic, medical, spiritual basis, ALWAYS. There is no single thing that is purely ""out of habit or attachment" and devoid of logic. Somehow, all foreigners always miss the point and term things as "cultural" for their own ease of understanding. Right now, this thought is giving me immense exhilaration of being part of a simple, logical culture but which is seen as complex by foreigners :D
I wish gold was more available here. America has a lot of stuff but gold is pretty much only for wedding bands and high-class jewelry. I just want a shiny hairpin :(
The interviewer may have not understood cause used jewelry, even gold, isnt something you can get a fair price for here. So to him it doesn't make sense. But if people buy and sell used but we'll cared for jewelry and get a fair price in India it makes more sense. Every thing in america must be new or its nor worth squat. Makes me mad to be honest.
The guy at 11:56 literally says "in your mind, that is a saving" It's a construct And mental construct A social construct It may be valuable, but only because the value is made up.
I was watching an episode of "Hardcore Pawn: Chicago" where a old man brings in useless stuff trinkets ect. trying to get some emergency cash. The owners daughter tells the man the items are worthless. She feels sorry for the man you can tell. Finally, after 10 minutes the old man starts pulling out old nasty looking Gold chains. The daughter says: "Why didn't you show me this when you first got here?" He gets $1000.00. The bottom line here is Gold is worth real cash even in America.
I like gold however I would never wear too much like a necklace, headpiece and rings all together it's to over powering, I prefer my simple gold necklace or ring
Very wrong about gold in india. Its not about the dowry. We use gold in festivals (like Diwali, Holi etc) , Temples, marriages(hindus considers marriage as holy act ). Gold is sacred in Hindu religion(also called Sanatana Dharma).
This is only in the northern states. Some of the southern states, it’s not flaunted as much but used for investment. And not all weddings look like Bollywood bonanza.
What video did you just watch? would you marry someone who isn't financially stable? Whether you like it, or not financial stability is a very important and mostly a deciding factor in choosing a partner for the long term. We do the same thing in our culture as these people do. They just choose to put that value in gold rather than a nice apartment. Although not the bet example, it is one nonetheless that does more than enough to show that it isn't greed.
Western companies would rather wish that Indians spend their hard earned money on fancy European made liquor or Marmalade or Tommy Hilfiger or marks and spencer , lol won't work haha.
The reporter's pretty smug and condescending. He can't seem to wrap his mind around the fact that it's a cultural thing. Same goes for most of the westerners on the comment section.
I agree, in America we are taught to NOT think about the future and our children after they are 18...this is helping to bring our destruction. At least they are saving for the future...something we don't do in the USA. peace.
taebaek I agree and disagree. I do think that American parents also think for their children's best interests, but I think it's done differently. Although self-discovery and creativity is encouraged, Americans are very self-centered. That can often get in the way of things. Ironically, Americans embrace diversity, but they can be real judgmental towards things that are different.
I admire the wisdom behind India's fascination for gold. Gold is real money, gold doesn't care about the bad decisions of governments and central banks. Gold has no political agenda.
One time I discussed with my mother how Indian women can pull off heavy and big gold jewelries while Chinese women tends to look better in more delicate pieces. It is remarkable how culture can impact one's taste and style while looking good in them.
I love gold on my brown skin over any other precious metal. It is an exquisite adornment that will never lose its rank above all jewels. This is beautiful about their culture, but the absolute emphasis does bring class divisions which is sad because no ones inherent value can be measured by what the possess or do not.
It's like that in the Caribbean island I'm from gold everything we don't feel we're dressed until we have on our hold jewelry. It must me a cultural thing.
Love of gold is not a negative trait. But in India it thing of bargain for the weddings. When a man weds a woman why do he ask gold and money as dowry? The custom is so rampant that the poor people are really suffering to send their girls in marriage.
+kumar kutty You're telling me that poor people can't marry other poor people? The problem here is moving a girl up to a middle-class life after being raised poor. Staying in the poor economic status shouldn't be an issue.
Check matrimonial sites, u will come to who is getting greedy... I saw a. Woman's profile who is making 3.5 laks per annum but expecting a groom with 7million salary. Because of such greed americans and Japanese men are choosing MGTOW. Its all about demand and supply. All are looking for handouts.
Another misrepresentation there - buying gold is neither restricted to one particular day nor an act or part of worship, any more than Xmas presents buying is either mass or restricted. The specific days when it is considered specially auspicious to buy gold, silver and so forth are a few every year, but those are not exclusive either way, merely when crowds buying are expected.
Fascinating, Gypsy's from Romania have „tons of gold” on the bride at the wedding, even tucks of gold, ties, rings, cars. We are not very pleased by this practices, but is a bit fascinating how they preserved this tradition after 500-900 years.
According to the analysis, the initial founding group of Romani likely departed from what is now the Punjab state in northwestern India close to the year 500 CE. From there, they likely traveled through Central Asia and the Middle East but appear to have mingled only moderately with local populations there. The subsequent doorway to Europe seems to have been the Balkan area-specifically Bulgaria-from which the Romani began dispersing around 1,100 CE.
Most of our gold had been stolen by British during the time they ruled and killed us for our wealth. The biggest example is kohinoor that shines in Elizabeth crown, and visit every musium in England it's been flood with our wealth.
I can understand why they rather have gold than paper money. Banks are not reliable to keep money safe, so they turn money into gold. Gold is like the saving account for them.
this is not dowry... it's exchange of culture and gift.. the pure example of dowry is when Portuguese princess married to British prince they gave Bombay(Mumbai) as dowry to Britain.
It's interesting, It's the same thing with my culture, Eritrea. I can say specifically I can speak for my tribe, The Tigrigna. Gold has a big part in two people joining in holy matrimony.
It's simple to understand. The price of Gold in India is rising and will not reduce in next 100 years. So let's say you bought 3 pounds of Gold for 5000 $ today, after 4-5 years the price of same gold will be 8000 $. (Numbers used are random and are used just for explanation.) If the gold is very old it is considered antique and will be of more value. -The Indian ;)
Every Indian Family Buys Gold, 20 years and more All of the gold Reserves will be in India, in people's Hand, Be it a festival, Marriage, celebrations Birthdays every occasion India Loes Gold.
I don't understand why some comments seem to feel ashamed for this fondness for gold, and some are from Indian users. For me it makes a lot of sense. Buying gold is good investment in every culture. Yes the westerners don't like gold as much but many investment-conscious families buy gold bullion as well. Perhaps India is different only in that they really appreciate the beauty of gold and pays a lot of attention to the aesthetics of gold jewelries. By the way, I really love the design of temple jewelries and well definitely buy some if I have money.
