Why Indonesian Prefer Gold Accessories than Silver

A Survey about Gold/Silver accessories in Indonesia
PERIOD: 2019/10/29 〜 2020/4/28

When people wearing accessories, they might want to show something. Gold and silver are the two most used materials in accessories crafting. Which one does Indonesian love?

Q. Between gold and silver accessories, which one do you prefer? (SA)

There are more Indonesian who preferred gold-based accessories than silver. According to a survey by Licorice, 61.8% of Indonesian respondents preferred gold-based accessories. Meanwhile, 38.2% chose silver.

In Indonesia, gold is still highly considered as a symbol of wealth. Of course, wearing gold makes people more proud than wearing silver. If you come to the suburbs area, you may meet middle-aged women wearing gold jewelry all around her body to proudly show their wealth.

Besides prestige, most Indonesian still believe that the only precious metal that can be used as an investment choice is gold.

At a time when other countries had known investment in the commodity market for a long time, Indonesia had only just begun in the 2000s. Gold itself is so attached to the community because this commodity has been known as a symbol of wealth for generations.

In terms of investment, Perak is not attractive to the people of Indonesia. Unlike in China or Hong Kong which makes gold, silver, and platinum as part of diversified investment portfolios. In addition, in Indonesia, gold bars can be purchased directly. Meanwhile, silver does not have a special place of purchase.

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