Lucky to not to understand Economics@Yellow metal in India yet be a part of this nation of paradoxes and unconventional actions

Every time I try to comprehend the intricacies of Economic theory in terms of its application in Indian economy …I get bewildered as many assumptions seems hazy when applied…My today’s experience@marketplace in Ranchi(capital city of Jharkhand) was one amongst many. Ranchi is comparatively a small or micro model to analyse as compared to big metropolitan cities of Bengaluru, delhi, Mumbai….but nevertheless this micro observation of mine made me reanalyze the dynamics of market forces. Today india celebrated Akshaya Tritiya – a hindu/Jain  festival . The word "Akshaya" means the never diminishing in Sanskrit and the day is believed to bring good luck and success. Nowadays jewellers have turned the purity into a marketing gimmick. The day is considered auspicious for purchasing gold or jewellery( as it is believed that it will bring prosperity for life). I was really moved from the morning itself  with the whole page advertisements by Jewellers (with attractive offers like 50% off, and so on and so forth). This was followed by the incessant SMS’s of Ranchi based jewelers on our cell phones….coincidentally , I witnessed the climax of this marketing extravaganza myself. Almost all the Jewellery shops of the city were over capaciated with customers- in fact the mix of customers was what attracted me a lot- from one yr infant to young boys and girls to uncle , aunts to elderly people. I was also taken aback on witnessing as to how a 6-7 yrs girl was dictating her mom as to what to purchase and what not to purchase(guess consumerism in the form of Baby and Child market driven is taking hold in India……and most importantly I felt dumb cause am almost “illiterate” in such matters altogether  Vs. this young girl..).I was really excited to see the happiness and the sense of satisfaction that was being reflected on the faces of mom, daughters and ladies in general on purchase of the yellow metal ! Believe me…it was then that I appreciated the true  definition of utility (which I learnt as a school student in economics)  -essentially the wants satisfying power……( I also appreciated Marshall cause of cardinal utility Vs. Utility as preferences -subjective and  ordinal )…..The consumer manifested here in terms of XYZ aunty and the way she was ordering her preferences for a round pearl gold necklace or earrings or ring…all reminded me of all hypotheses of strong and weak ordering theory!..But my appreciation and understanding of economics faded at this juncture..as after this I saw that what actually materialized in those markets was in large degree (in strict economic behavior) quite opposite of rational behavior.I mean demand was no more led by usual factors of price ceteris paribus (one of the first theorems I  studied)….It was in fact a market economy where Indian consumers and their trademark craziness for 24 carat Yellow metal piece was in full display defying all the essential assumptions of economics…..Sometimes I feel Indian economy is a bundle of paradoxes……where 7 yr little girl dictates the demand for good that to for gold puchase or almost crazy consumer ABC who spares no effort to purchase as much good(here gold) as possible ..maybe in the hope of getting more good lucks or  a consumer D (who is accompanied by her whole family consisting of say 5-6 persons to purchase a small  piece of 24 carat gold….! For we Indians, gold still occupies so to say a sacred place( which I remember was one of the imp reason cited somewhere in Indian Economic History classes of mine as one important means in which we sort of horded wealth and thereby  limited the capital formation in early 18th , 19th c. ).If only gold was not that dear to us but alas!Every time my mom asks me Economics@Gold prices I feel so incapacitated as my knowledge and understanding almost falls to nil when it comes to such items so so dear to better half of our country!Believe me , India is an interesting eg to see how ceteris paribus factors(esp the custom, culture and tradition) influence market forces and I feel so lucky to not to understand yet be a part of this beautiful nation of Paradoxes and unconventional actions….I love being a part of this non comprehensible example in market economics as even am a part of the same consumer base!