In Serbia, there has always been a tradition of gifting gold. For special occasions, births, weddings, significant dates, family or business anniversaries, but also holidays, a ducat, tile, or jewelry made of precious metal is usually given as a gift, symbolizing durability, stability, and security.
Often these pieces are inherited, traveling through generations. However, we are not the only country where the gift of gold is part of folklore. It is given away all over Europe, Asia, and China is the record holder, where the extreme buying of gold before their New Year even shakes the world price of gold.
As analysts say gold is a unique gift whose value increases with time. So whoever gets a ducat or a bar of investment gold this Christmas will already have more next year, and if he is patient for a decade, he could earn twice as much. That’s why Georgi Hristov from “Tavex zlato&srebro” says that investment gold is a gift that keeps on giving.
– The ducat that someone bought or received as a gift for Christmas 2024 is already worth 20 percent more today. The price of gold a year ago was around 2,100 dollars per ounce, while today it is around 2,650 dollars. And if, for example, you received a bar of one gram of pure gold 10 years ago for Christmas, when the price of one gram of gold was 40 dollars, today that gift would be worth as much as 85 dollars – says Hristov and adds that this represents the long-term nature of gold as a gift that is always oriented towards the future and towards achieving as much value as possible during life.
Ducatis and tiles travel through generations
Georgi Hristov says that the culture of giving gold coins as a gift for significant moments in one’s life is part of the tradition in many parts of Serbia. One of the most popular is gifting gold ducat for birth or baptism.
– That ducat is an investment in the child’s future and represents a valuable item that will one day be cashed out. A ducat is also given as a gift for weddings, where it is a symbol of investment in a long-term life together – explains Hristov and adds that apart from ducats, which are definitely the first choice and often inherited through generations of the family, gold bars, especially smaller weights, are increasingly popular as gifts.
– We are looking for gold bars of 0.25 grams, one gram and up to 10 grams. This gift serves the same purpose as a ducat, and is a gift whose value will grow during the lifetime of the recipient – explains and concludes that it is a gift that provides security and stability.
Both relatives and banks give gold to the Chinese
Giving gold as a gift for Christmas is not only our tradition. In many European countries, objects and products made of gold can often be found among gifts, but the culture of giving gold is very impressive, especially in Asia. China is the record holder, where the extreme purchase of gold before their New Year raised the price of this precious metal, even moving the world price.
– China is the largest buyer of gold in the world. It’s hard to go to any ceremony in China without being speechless when you see the amount of gold they use for each ceremony. Similar to how we in Serbia celebrate the Serbian New Year, according to the Julian calendar, the Chinese, Vietnamese, and Koreans also celebrate their lunar new year. For these occasions, not only is the gift of gold popular, but it is also an expected gift. Gold is such a well-known gift that even banks in Vietnam and China offer gold as a gift for new accounts opened during Lunar New Year celebrations – says Hristov.
Gifting gold in Asian countries represents entering the new year with prosperity, longevity and stability.
– The Chinese and other peoples of Asia have an emotional connection with gold as a gift, it is not only a material value, but in their cultural rituals it is a symbol of prosperity and stability. The saying in China “buy something golden” means a lot to them. To such an extent that almost every year the price of gold in China jumps ahead of the Chinese New Year celebrations, they buy huge enough amounts of gold to move even the world price.
At Chinese weddings, it is customary to provide “four pieces of gold” for the bride, but most often it is even much more than that amount. This gift is given as a symbol and hope of prosperity for the newly founded family.
– There is a similar tradition in India, where gold in abundance marks every wedding. In India, giving this gold to the future wife is also a way to ensure her financial freedom within the marriage. The most recent and “loudest” example of this tradition was this year’s wedding of the son of Indian billionaire Mukesh Ambani, where it is estimated that millions were spent on gold gifts alone. – says Hristov and adds that a lot can be learned from these traditions from Asia, and above all that a gift is not just something that is bought in order to respect the form, but that the gift should be thought out, to provide real long-term value.
Savings in gold security for the family
That saving in gold exists as a tradition in the Serbian people, and that this love for gold is practical, because throughout history Serbs were often occupied and in such unstable circumstances chose gold for security, he believes broker Branislav Jorgićwho himself has been investing in gold for decades and keeps it for his loved ones.
– Back in 1982, I bought a gold bar of 5 grams at a price of 366 dollars per ounce. Over time, I had no need to sell it, and the current price of gold is seven times higher. It is difficult to calculate whether I earned anything, but it is certain that I preserved the purchase value of my savings. As things stand today, I will give that tile to my grandson, which will help him develop an investment culture and contribute to his financial security in the future – Jorgić told us and added that investment gold is not suitable for short-term speculative transactions.
As he says, it is a form of saving for the long term, although there is a rule in stock market business that price movements throughout history are not a guarantee for price movements in the future, but that future growth or decline in the price of gold will depend on political and economic stability at the global level.
Ducats and bullion pay more than jewelry
Although gold jewelry is an equally popular gift, experts in this field emphasize that investment gold is a better choice.
– Investment gold follows the stock exchange price of gold in small margins, and it is universally standardized and known all over the world, especially when it comes to gold from world-famous Swiss refineries such as Valcambi, PAMP or Argor-Heraeus. In addition, perhaps the most important factor, since investment gold is treated as an investment, it is exempt from VAT. Which means if you want to buy gold jewelery worth €300 or investment gold worth €300, you will get much more gold and value than an investment product – explains Hristov.
He indicates that the price of jewelry includes VAT and artistic value and other metals used, since it is not 24-carat gold, as it is for investment purposes. When it comes to investment gold bars from world-famous refineries, it is gold of 24k (999.9 purity), which is recognized everywhere in the world and is sold at almost the stock market price without VAT.
Photo: pixabay
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