But gold is a niche product too
i've never met anyone in my whole life who owns any gold but i guess it's the type of thing you might not admit to.
but attitudes to gold are very different around the world. in the west it's often regarded as the type of thing oldies and cranks are into. in places like india it's a very different deal. i'm not sure what the chinese attitude is.
I'm not talking about jewelry
In India, most of the demand for gold seems to be coming from the jewelry sector, since jewelries made of gold are immensely popular among Indian women without exception. Gold is considered as a status symbol there, and in Indian weddings the gold that the bride wears shows the status and wealth of her family. In short, the more the better...
I refer to physical gold which is used for long-term investment purposes by individuals (not banks or governments)