she performed the Hajj, the Muslim pilgrimage; and gold coins to celebrate her daughter’s birth. And she will keep investing in gold, as prices for the metal reach record highs.

“Compared to bonds and compared to holding cash, I would still prefer to buy gold coins,” Ghani, 56, of Miami, Florida, said. Brides in South Asia are famously decked out in the precious metal – necklaces, earrings, nose rings, hair pieces and amulets – that can be gifted or inherited. The collection often starts before they’re even born, composed of inherited pieces and gifts to commemorate their birth, life mile-stones and religious holidays. Gold has been known as the most reliable safe haven asset for millennia, but it is more than an investment for South Asian families. The tradition of daughters inheriting their mothers’ gold spans across urban and rural India, regardless of socioeconomic class.

It is deeply sewn into the fabric of the region’s culture, often quite literally, as many women inherit saris that are intricately embroidered with gold thread. They revere gold pieces as precious family heirlooms rather than a quick cash turnaround — and for women, it can be one of the few assets that belong solely to them. Gold prices have skyrocketed 26% this year, after rising 27% in 2024. The metal hit a record high above $3,500 a troy ounce in April, spurred by US President Donald Trump’s chaotic tariff agenda and his attacks on the Federal Reserve’s leader. And the South Asian women who long invested most of their assets into gold are winning in this rally.

“Whatever I have, it’s all gold,” one South Asian mother described to her viewers on TikTok, showing off a 24-carat necklace she received 28 years ago. “When I bought this (necklace) right, those days, golds were very cheap. One gram was $12. Now it’s $100.” India was the second-largest market for gold jew-elry in the world in 2023, only falling behind China, according to leading industry group World Gold Council. In 2021, India bought a whopping 611 tonnes of gold jewelry; in comparison, the next-biggest region, the Middle East, bought 241 tonnes.

Demand in India is driven by jewelry: The country has an expected 11 million to 13 million weddings a year, with bridal jewelry enjoying more than 50% of the gold market share, accordingly. South Asians make up approximately 10% of UK gold supplier Solomon Global’s client base, and it had seen an uptick in the last year in women of South Asian origin buying gold, according to the company. (CNN)