62% Gen Z, mllennials buy gold under 5 grams, pick bullion over MFs, stocks

About 62% of Gen Z and Millennials still consider gold the safest investment option, according to a Smytten PulseAI survey, even as younger buyers shift toward smaller, more frequent purchases and increasingly make gold-buying decisions independently rather than as part of family-led investments.

The nationwide survey of 5,000 consumers aged 18–39 found that 66.7% of gold purchases are now driven by personal decision-making, reflecting a generational shift toward self-directed investing. At the same time, 61.9% of respondents said their most recent gold purchase was below 5 grams, signalling a move toward lighter ticket sizes and gradual accumulation.

Gold continues to be the first choice when safety matters

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  Despite growing access to modern financial products, gold remains the most trusted investment for young Indians.
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  According to the survey:
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   61.9% of respondents would choose gold if they had ₹25,000 to invest today, far ahead of mutual funds (16.6%), fixed deposits (13%), stocks (6.6%) and crypto (1.9%).
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  During times of economic uncertainty, 65.7% said gold feels like the safest option compared to bank savings, mutual funds or equities. These findings underline gold’s enduring role as the financial fallback across both Gen Z and Millennials.
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  66.7% of respondents said gold buying today is largely a personal, self-driven decision rather than one influenced primarily by family.
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  42.3% said they themselves initiated the most recent gold purchase in their household, while 40% cited parents or elder family members. This points to a clear generational split in how gold decisions are made. 

Smaller purchases are becoming the norm

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  The survey points to a clear move away from large, infrequent purchases toward lighter, more regular buying.
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  61.9% of recent purchases were below 5 grams, with 27.5% buying less than 2 grams and 34.4% buying between 2 to 5 grams.
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  42% of households now prefer smaller, more frequent purchases over time, compared to 58% who still make one-time, occasion-linked purchases.
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  For many first-time buyers, entry into gold is no longer limited to weddings.
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  24.3% said their first gold purchase was triggered by their first salary or personal income, while 23.9% cited an investment decision.

This reflects the generational split in entry behaviour: Gen Z is more likely to enter through personal milestones and smaller starter buys, while Millennials are more likely to anchor purchases to life events and longer-term security.

Trust still outweighs convenience in gold buying

Even as digital investment platforms expand rapidly, gold purchases among young Indians continue to be driven largely by trust and familiarity rather than convenience. The survey shows that physical retail channels remain dominant, with 38.3% of respondents preferring large branded jewellery chains, while 34.7% continue to rely on local neighbourhood jewellers.

In contrast, only 5.2% of respondents currently purchase gold through online platforms or apps, highlighting the slow adoption of digital channels in a category where authenticity and reliability matter deeply.

Concerns around purity and authenticity remain the biggest barrier, cited by 49.4% of respondents. Another 21% worry about hidden or making charges, while 17% are concerned about resale value — all pointing to persistent information gaps in the buying journey.

Post-purchase regret remains common

One of the most notable findings from the survey is the high level of hesitation after buying gold. Nearly 67.1% of respondents said they have often or sometimes felt regret following a gold purchase.

The reasons vary. About 38.9% said they regretted the price paid, while 33.5% pointed to confusion around the format of purchase, such as choosing between jewellery, coins, or digital gold. Another 18.8% said they lacked sufficient information at the time of purchase.

Together, these findings highlight a growing gap between strong trust in gold as an asset and lower confidence in the buying experience, particularly among Gen Z and Millennial consumers.

Strong future buying intent

Despite these frictions, demand for gold remains resilient. The survey found that 52.7% of respondents are very likely to buy gold in the next 12–24 months, while 31.4% said they are somewhat likely to make a purchase.