According to participants in World Gold Council's (WGC) 2008 jewellery survey, that was conducted by independent research firm, GfK, in the key jewellery markets of India, China, Saudi Arabia, Italy, Turkey and the USA, the yellow metal is the most appropriate and desirable gift for the Day, as "it is everlasting".

7,500 females aged between 15 and 65 were asked about their reasons for buying and favourite occasions for receiving gold jewellery, with 76 per cent agreeing that "it is everlasting" and Valentine's Day emerging as a key date.

As per the survey, Indian women regard gold as an indicator of emotional ties, with 81 per cent claiming that the amount spent on gold jewellery reflects how valued someone is.

Women in the USA and China cite a more romantic sentiment behind buying gold as a gift, with 56 per cent of those surveyed in both countries agreeing that gold "is a symbol of love".

Women in Turkey and Saudi Arabia are particularly shrewd on this point, with 65 per cent and 70 per cent respectively citing that "gold will not lose its value" as a key reason for buying gold as a gift.

In contrast to gold jewellery, other luxury consumables were viewed as having short-term aesthetic appeal and lacked the investment value and the longevity of gold.

According to Philip Olden, Managing Director, World Gold Council, "Our survey shows that Valentine's Day is an important occasion for receiving gold jewellery for women in different regions around the world."

The higher gold price has added to gold jewellery's desirability despite these challenging economic times, Olden added.

Even the younger segment of those surveyed, who are typically more interested in spending money on gadgets such as mobile phones than spending their disposable income on jewellery, appreciate the romance of gold jewellery with 30 per cent stating they wanted to receive it for Valentine.