In India, traditions are greatly valued, and traditions usually involve the concept of gifting something invaluable or immeasurable, since time immemorial, rulers have been known to gift gold ball chains, gold rings, gold plates, etc. from the Gold Collection to the ones that they deemed worthy of receiving it, in current times, Diamonds are seen as a wealthy commodity, almost crossing the status that gold holds in the Indian society. Diamond necklace set price are usually high, but so are for similar diamond products, but the outcome of the gift is of great value and probable future long-term investment that could come in handy one day, as shown in recent times, where the price of diamonds has been on a steady rise. So which is better? Diamonds or Gold?
When it comes to diamonds, it is good to always keep the following in mind;
Size of the mineral: What gives it an upper edge over gold is the obvious fact of size, unlike gold, diamonds are of great value even when it’s in small quantity, whereas gold in some sense, takes up a lot of room, therefore their products seem like a good investment.
Storability: Since it’s so small in size, its storage options are of many, it can be stored in a small safe box to a big vault, etc. Products such as Diamond necklace set price of a lot of rupees can be held safe within a small box, its price would still be that of hundreds and thousands of rupees.
Durability: Diamonds are one of the hardest substances that are known to exist in the world, so in terms of its durability, it is guaranteed to stand the test of time.
Safety of investment: The best part about owning diamonds is the fact that one need not worry about losing or get themselves anxious over a long period of time, because they can be insured, for it is inflation proof, just like other physical commodities, but unlike physical commodities, diamonds can be financially secured, and is worth as much.
If one is considering buying gold, as a gift or just to invest in it, keep the following in mind;
Culture and Durability: Unlike diamonds, gold has existed in the Indian culture since time immemorial and still does to this day, with equal value. It is not just a mineral but is intrinsic to the very culture to India itself. In 2012, India consumed 800 tonnes and imported 951 tonnes of gold.
As an investment: Gold has appreciated 501% from 2001-2012, which comes out to an annualized return of almost 18%. Gold is an excellent hedge against economic, political, currency crises, and overall market declines. When markets are in a recessionary period, gold is often sold to offset losses. Another benefit to investing in gold is that the market for gold is generally fairly liquid.
Storage: You may be worried about storing gold items such as new gold earrings and such other products in a safe space. Gold is fungible, which means you can trade one large piece of gold for a hundred small ones. These characteristics make it a feasible potential investment and probably enough to get the exchanged item into a safe space.
Ultimately the financial value that exists with the two are two high extremes, with their advantages and disadvantages, but as a gift idea, either one of the two is always okay, because who wouldn’t want gold or diamonds?