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Physical gold is not a common investment among millennials today. Investing in gold may also include paperless gold, such as gold and gold exchange-traded funds (ETFs).
1. Investing in mutual funds
Mutual funds are becoming increasingly popular, and they are widely regarded as one of the best and safest investment vehicles.
2. Gold ETFs
Gold ETFs are exchange-traded funds that invest in gold bullion and are dependent on gold prices. Gold ETFs follow gold pricing in the same way that stock ETFs follow a specific index.
When compared to buying real gold, ETFs have much lower costs. Gold ETFs, like all other ETFs, are traded on stock exchanges. One of the most common gold ETFs in India is Goldman Sachs Gold BEES.
Physical gold purchases will never go out of style, particularly in Indian culture. But that, too, has changed drastically.
Gone are the days when mom and pop shops will chipkaofy millennials with some items. As a result, corporations and the industry are working hard to fulfil the needs of millennials.
For example, mom and pop shops and a branded jewellery chain have relocated online and pursued an aggressive digital marketing strategy to ensure that millennials know their offerings.
These businesses began with a free home trial, which was very common in ancient times among well-known families.
On the other hand, online jewellers have begun to open a few stores or kiosks where millennials can try to design or style.
Wearing the look has become increasingly fashionable among people, and every business is trying to keep up with the millennials’ experimenting nature.
Millennials’ demand will remain constant as the market evolves
We assume there has been a change in the way demand is generated. Pattern, design, styling, pricing, quality, features, brand, and many others have developed and become the mainstay for decision-making in every direction.
The long-term demand for gold among millennials will remain high. We won’t be shocked if gold takes a share of a millennial’s portfolio away from real estate in the long run.
Though the generation started with a strong focus on real estate, it has since been influenced by the western world, where renting with a luxurious lifestyle is more common.
To sum up, millennials tend to do things differently than previous generations. As a result, demand will still exist as long as manufacturers adapt to meet the generation’s needs.
You don’t have to invest in gold anymore due to the advent of paper gold. You may easily buy gold through a mutual fund or an exchange-traded fund (ETF).
We assume there is a good chance that gold mutual funds or paper gold will gain momentum as the price of gold rises.