A good way to save

The Pakistani businesswoman added: “It’s also a form of saving, as the resale value of gold is good, you can sell it anytime, anywhere, you don’t lose more money as compared to jewels.”

Her relatives and friends have always used gold as a means to save up: “I have seen my grandmothers and older relatives in the olden days buying a lot of gold so they have something for rainy days to come. They have tried to pass down the habit and teach me the tactics too. However, I haven’t passed down the habit to my children.”

Afshan feels that diamonds can be a good investment only if they are bigger in size and of good quality and cut. She, however, added: “Unlike gold, diamonds cannot be sold anytime, anywhere without losing much money.”

Indian expat, Vidya R. agreed: “Diamonds may make you feel rich, but to me, they are not as precious as gold. Whenever I go to a jewellery shop, I notice, it is easy to get discounts on diamonds but never on 22 or 24-carat gold. I didn’t know much about the value, but this pattern was enough for me as a buyer to conclude that yellow gold is more precious and worth more than diamonds. The liquidity of gold is high.”

A safe investment in the long run

The 35-year-old human resources freelancer added: “I have invested in coins in the past and that helped me later. When my husband and I were in a dire financial emergency, we were able to use our gold before thinking of borrowing. I would suggest if you are not very keen on jewellery, at least buy coins. On any given day, I would prefer to spend my spare money on a gold coin instead of the latest expensive phone. I have always benefited from my gold purchases.”