Factors influencing Gold Investments among IT Employees in Bangalore city
Author(s):
Saraswathy Muralidharan, Dr.Manasa Nagabhushanam
Keywords:
Gold investments, Factors, Utility, Investment attitude, External factors, IT Employees
Abstract
Gold has traditionally held a significant cultural and monetary value in India, and its presence can be seen everywhere from the homes of ordinary citizens to the most extravagant of their jewel boxes and bank accounts. However, because of the present political context, buyers of gold are considering alternative markets. The purpose of this research is to identify the most significant drivers behind the rising interest in Gold as an asset class among IT Employees. The study found that deciding to invest in gold is affected by four distinct factors: external influence, investment motive, investment attitude, and investment utility. Both primary and secondary data are used to accomplish the study's goals. The questionnaire had 26 items in total. Using the master validity series, we assessed the questionnaire's scale validity and reliability, and found that they met our standards. Researchers used a convenience sample of IT investors for their study. The sample size of 100 was determined using the Cochran technique for estimating an unknown population with 95% confidence and a 5% margin of error. To account for some non-respondents, the sample size was increased to 150 IT investors. Following the exclusion of non-representative data, 127 IT investors were selected for the analysis. SPSS version 25 and AMOS version 22 were used for the statistical analysis. The survey found that Gold Ornaments are the most popular form of investment among IT professionals, followed by gold bars and coins. When it comes to purchasing gold, digital purchases, are second only to Gold ETFs and Gold Bonds in terms of popularity. Our model of the factors influencing gold investment shows strong relationships between all of these factors at the p0.05 level of significance. Inspiring and usefulness are two major factors that impact Gold investors' judgments (46% and 41% respectively). Only 6% of investors will have their decision to acquire gold influenced by external factors. Attributing 31% of the variance to attitude is a statistically significant correlation with the decision to buy gold.
Article Details
Unique Paper ID: 156429

Publication Volume & Issue: Volume 9, Issue 3

Page(s): 612 - 619
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