Why Kashmir Still Trusts Gold More Than Banks

People of Kashmir have relied on gold for generations, trusting it to keep their wealth safe when times get uncertain.

Markets may fluctuate, money may lose value, and politics may turn, but gold remains constant. It fills family chests, a bride's trousseau, and the simple belief that wealth should shine.

From the pharaohs of Egypt to the Mughal courts that once ruled the subcontinent, gold has been the language of power. Empires were built on it. Wars were fought for it. It served as currency, art, and prayer all at once.

In every era, gold held its place as a store of value when paper lost meaning. Kashmir, shaped by centuries of trade and turmoil, learned this lesson early.

Its people stored gold in jewelry and coins, trusting it more than any institution. In Kashmiri households, mothers still tell their daughters that gold is the only wealth that never betrays.

Gold's story has been one of constant ascent in India.

In 1960, a gram of gold cost ₹7. By 1970, it had risen to ₹18. In 1980, it touched ₹133. By 2000, it reached ₹440. In 2010, it crossed ₹1,850, and by 2025, it stands near ₹11,000 per gram.

Behind these numbers lies a truth that every Kashmiri household understands: gold rewards patience.

If someone had invested ₹1,00,000 in gold in 1965, that investment would now be worth over ₹15 crores.

Very few assets can match such long-term resilience.

This steady rise reflects something cultural, almost emotional. Kashmir's economy has lived through decades of disruptions. Jobs have been lost, industries have shrunk, and access to formal credit often remains limited.

In such an environment, gold offers both comfort and confidence. It is liquid, easy to trade, and universally valued. Unlike land, it needs no paperwork or government clearance. Unlike currency, it does not erode with inflation.

When everything else feels uncertain, gold holds its ground.

Gold's durability goes beyond its price. It does not rust, tarnish, or decay. It travels effortlessly across borders and generations. A gold bangle given to a Kashmiri bride today may one day pay for her child's education or her family's future.

For many Kashmiri families, gold is the emergency fund, the retirement plan, and the inheritance. It's a tangible link between aspiration and security.

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