This study explores how fluctuating gold prices influence household investment behaviour in Nashik, a growing urban centre in Maharashtra, India. Known for its rich cultural traditions and rising urbanization, Nashik presents a unique demographic blend where gold is both a cultural necessity and an investment asset. This research analyses changes in investment preferences from physical gold to digital forms among Nashik households amid recent gold price surges. Findings suggest a gradual shift in behaviour, especially among younger and financially literate populations, while traditional attitudes remain prevalent among older and rural-linked groups.