How Indian millennials and Gen Zs are redefining gold ownership

For millennia, gold has been more than just a precious metal in India; it's been a cultural cornerstone, a symbol of wealth, security, and auspiciousness. But as India’s Millennials and Gen Z come of age, a fascinating shift is underway.

While the reverence for gold persists, the relationship that Millennials and Gen Z have with this alluring metal is being transformed by contemporary sensibilities, technological innovations, and shifting financial priorities.

This generational shift does not mark a break from India’s cultural connection but rather reimagines gold’s role in modern life.

A new generation, a new aesthetic

Gold jewellery, traditionally cherished for its rich, ornate designs and special occasion appeal, is now undergoing a thoughtful makeover by Millennials and Gen Z.

These younger consumers seek more versatile designs that complement their fast-paced, contemporary lives while allowing them to express their individuality.

Personalisation, stacking, and layering gold jewellery have become defining trends, highlighting gold’s versatility and empowering the young consumers to express their unique style with fresh, confident vibes.

Marketing to the modern consumer

Major marketing initiatives in recent times, such as storytelling-driven campaigns, have reimagined gold’s place in youth culture, celebrating small yet meaningful moments and encouraging younger audiences to treat everyday moments as worthy of commemoration.

This approach strikes a chord with Millennials and Gen Z; they are drawn to authentic narratives, innovative digital platforms, and influencer-led activations that reflect their aspirations while remaining rooted in contemporary lifestyles.

By utilising a mix of digital media, OTT platforms, and targeted social channels, brands have maintained visibility at the cultural intersections where young people shape and share their evolving identities.

Through such trends, gold transforms from a symbol of traditions into a medium for self-expression and celebration of meaningful personal moments.

The emphasis is shifting towards jewellery that integrates seamlessly with daily wardrobes—celebrating love, identity, and the spirit of the moment.

Ethical choices: Sustainability and conscious consumption

This generation’s gold jewellery choices also reflect a rising consciousness about the origins of their purchases. Ethical sourcing and transparency in supply chains resonate strongly with Millennials and Gen Z, who are more likely to favour brands that align with responsible and sustainable practices.

Custom designs and collaborations with independent artisans allow young buyers to tell their unique stories through gold, making every piece an intimate expression of personality and values.

In this way, gold jewellery becomes not just an adornment but a meaningful manifestation of love and cultural continuity shaped by a statement of identity and responsibility.

Gold as an investment

Alongside these cultural and emotional dimensions, a significant facet of this evolving relationship is gold’s stature as an investment asset. The younger generations seek practical and financially astute ways to preserve and grow their wealth.

The perception of gold as a long-term asset underscores gold’s enduring status as a safe haven amid global economic uncertainties. The younger generation is approaching gold as a diversifier that offers protection against inflation and market fluctuations.

The growing popularity of gold Exchange-Traded Funds (ETFs) and digital gold has revolutionised how Millennials and Gen Z invest in gold. They offer fractional ownership of gold, instant liquidity, transparency, and ease of transaction—all features that appeal to tech-savvy and financially informed young investors.

The rise of gold ETFs also mirrors a broader shift towards planned, diversified investments, as seen with the increasing popularity of systematic investment plans (SIPs) among the younger generation.

In sum, Indian Millennials and Gen Z are reimagining gold ownership in a manner that honours the past yet embraces modernity. Gold jewellery remains an intimate symbol of love, festivity, and self-expression, now adapted to the aesthetics and ethics of the new generation.

Simultaneously, gold as an investment is more accessible and dynamic than ever, with gold ETFs and digital gold offering sophisticated, convenient ways to include it in wealth-building strategies. This dual dynamic—celebrating emotional connections through jewellery while harnessing gold's financial potential—defines the contemporary gold narrative in India.

For the marketers and brands in the gold industry, understanding this nuanced landscape is critical. Brands that offer personalised, ethically sourced jewellery alongside modern investment solutions will resonate best with these consumers.

What’s next? 

The legacy of gold in Indian culture is evolving, shining anew through the eyes of the nation's future generations, where every gold piece is a story of love, every investment a step toward financial empowerment.

Gold in the hands of the younger generation is more than a metal: it is a versatile emblem of affection, celebration, individuality, and prudent investing, beautifully bridging tradition and innovation in a vibrant, modern India.

(Arti Saxena is the Head of Marketing for India at the World Gold Council, an international trade association for the gold industry.)