Seven out of 10 Indians think gold as a safe asset: Survey

New Delhi, Oct 17 (IANS) Seven out of 10 (70 per cent) Indians consider gold as a safe asset that positively influences their savings habits, a survey report said.

According to the Moneyview survey, "over 85 per cent of the 3,000 respondents consider gold a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence".

The survey further said that investors particularly in the age group of 25-40 years, invest in gold via both the physical and digital way, as part of their regular financial strategy to build wealth for retirement and other long-term goals.

"70 per cent of respondents reported that their perception of gold as a safe asset positively influences their savings habits," the survey said.

In the digital era, the appeal for gold is increasingly driving investors towards digital tech platforms that offer easier access to gold.

The survey further said: "Assured purity, insured storage, affordable investment due to availability of Systematic Investment Plan (SIP) options, and safety among others are some of the key drivers for digital gold investments across India."

According to the survey data, "over 75 per cent of respondents under the age of 35 prefer digital gold to physical gold, citing its liquidity and convenience as major factors". More than 50 per cent of the respondents believe that the ability to purchase gold in fractional amounts through digital platforms is one of the most lucrative features driving them towards changing their investment habits. Nearly 65 per cent of millennials surveyed expressed a preference for digital gold due to its ease of access and convenience.

Sushma Abburi, Chief Business Officer at Moneyview, said: "Digital gold is revolutionising the way people invest in this timeless asset."

"The lower entry barriers, ease of access and enhanced security make digital gold a highly convenient and valuable option for today’s investors," she added.