On Kerala - Gold's own country...

Wealth is a state of mind and in Kerala is the status of your gold jewellery. Fascinating but true ! When you are totally flummoxed by the throng in the jewellery shops in Kerala , come rain or sunshine ( read recession or economic boom ), you are even more amused by the attire of the average buyer. You will see white lungi clad men and women wearing the most casual sarees and perhaps even a pair of bathroom slippers - the ubiquitous Hawaii chappal.. The only sign of wealth is the dilapidated handbag safely tucked in the arm pits and which they carefully caress every now and as if they are the stroking the mane of their chihuahua pets ! And then lo the smiling salesman at the counter brings out a six figure bill and they don't bat an eyelid ! Three minutes down, you will see the same customer negotiating tooth and nail with an autoriskshaw driver who is asking for 20 bucks over the normal 16 or 17 rupees ... In most likely they will skip the luxury and head for the public buses ! Well, that is Kerala for you !

So why this fascination for the yellow metal which is of course a wonderful investment but limited in value of use. Most of the purchases are for one time occassions like marriages and most of it is hardly worn by besides on the big day. The liquidity content has never been a big motivator perhaps till recently since no middle class or uppper middle family wants to pledge their jewellery for loans. But that is changing... Gold finance is ctahcing up steam and is flying ahead in its business. Gold has truly replaced land as the prime asset to watch out for as the prices seem to the steeping up the curve come whatever economic macro situation.

So how come gold came into fashion in Kerala which does not have any metal deposits to boast of.Well, history tells us that when the spices were more popular than metals , a bag of pepper or cardamom fetched bags of gold from the traders from other coutnries. So gold started being the foreign commodity which was wanted much by the rich and famous and their ofcourse their wives... Then of course the craftsmen took to the design and the artistic talent burgeonef across generations...

Well let me not bore you more history than can be palatable - Check this out - an average middle class woman wears a chain ( avg. 3 sovereigns), two bangles ( 4 sovereigns ), a ring ( one sovereign ) and a pair of earrings ( 2 sovereigns). At today's cost that is Rs one lakh seventy thousand rupees - equivalent of $ 3,200 ... And that is only for accessories ! Maybe I am exagerrating but that is something - What say you D&G, Versace, Gucci and my Italian friends ...