Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
They say in Western culture that a diamond is a girl’s best friend. Beyond the sparkling pleasure of the rock glittering on a finger, a diamond is also a valuable asset that a woman may keep and cherish forever – or sell, if the need arises. A woman with a diamond has both intrinsic and marketable value in so many carats. What better security is there than that?
So, if a diamond is a girl’s best friend in America, gold is even more than that in India: it is the sacred mother that propels life forward. No wedding happens without copious amounts of gold and a bride is expected to bring some sort of gold offering to her new husband. The two to five days of feasting and dancing are a perfect opportunity for all wedding guests to show off their gold jewelry, and though there are more than 20 different languages in India, everyone speaks gold. There is even a special holiday when the goddess Lakshmi blesses anyone who buys gold on that day.
This precious metal is so ingrained in India’s culture that even the poorest of the poor save their hard earned money to slowly buy grams at a time. The reason? Gold is a status symbol, yes, and the more gold a person wears, the more elite they appear to be, but India’s obsession with gold runs deeper than, say, an American’s similar infatuation with expensive sports cars. Owning gold is synonymous with having prosperity, health, happiness, many blessings and, of course, secure and lasting wealth. The Indian people take comfort and pride in their gold, and no household is complete without it.
Gold was first brought to India by Asian and European explorers, and now that India is the 6th largest economy in the world, gold is a prolific, widespread and staple investment throughout the country. One of the reasons why gold is experiencing so much traction in India is exactly because of how the Indian people view gold: as an investment rather than a luxury. Gold prices are continuing to rise, and Indian people are continuing to buy gold. Just like a woman can rely on the resale value of a diamond should she ever need it, owning gold in India is both a sacred cultural symbol and a smart long-term investment. It blesses the wearer with both feelings of prosperity and tangible financial security.
Nowhere in the world does gold have as much sway as in India, and with a booming middle class, the gold industry couldn’t be doing better. Go ahead and set prices in London; India is where gold value is really determined, and with such a demand, the entire gold industry is seeing positive ripples the world over.