Pledging Gold- To Do or Not to Do (That’s the Question)
Gold is considered pious in India. It has been associated with the likeliness of Goddess Lakshmi, the deity of prosperity and wealth. Buying gold commemorates auspicious functions and celebrations. No doubt, pledging gold does not go too well with Indian community. Gold is also a prized heirloom which is passed from one generation to another as a mark of family legacy. Also, the skyrocketing prices of this metal make it a safe bet against odd times. Be it a medical emergency, financial crisis, business requirement, one can pledge gold to bail out of a perilous situation. With changing times, the concepts of people have also changed. Pledging gold is no longer considered unacceptable. However, whether one should pledge gold or not is still a debatable topic. Pledged Gold Vs. Instant Payment Against Gold People realise that gold can be used as a security to meet their urgent cash requirements. There is no doubt that gold loan market is soaring today. Most bank...