Why Does Everyone Buy Gold on Akshaya Tritiya?

Significance of Akshaya Tritiya

Akshaya Tritiya is usually celebrated in April or May in India depending on the Hindu calendar. This is a popular occasion for people to buy gold.

What is the significance of Akshaya Tritiya?

As the legend has it, this extraordinary day marks the dawn of the new Treta Yug leaving behind Krita Yug. It is in this Yug that Lord Ram, the human form of God Vishnu, incarnated on earth. The day also signifies the birth anniversary of Lord Parasuram, a member of the elite group of seven immortal people in the world, who has transcended time.

This day is associated with an unshakable faith, by both Hindus and Jains, that all new beginnings on the day will eventually pay off in multiple ways. Lord Vishnu and Goddess Lakshmi are worshiped with full devotion in various parts of India on the day. As gold is inseparable from our Indian culture, it is needless to say that a multitude of people are particular about purchasing at least an iota of gold as a precursor to a prosperous future.

Akshaya Tritiya – A Day for Investments and Charity

A word derived from Sanskrit, Akshaya means which never diminishes. This has given rise to the popular custom of starting a new venture, investing in real estate or gold, or donating for poor and needy. It is believed that any task or investment that is done on Akshaya Tritiya will never diminish and is sure to grow, endowing us with good fortune.

Buying Gold on Akshaya Tritiya

The significance of the day and a deep affection for gold in the Indian culture; both have made buying gold a popular custom on Akshaya Tritiya. While it started with the women of the family buying jewelry for themselves – an invocation for Goddess Lakshmi; the trend has now expanded to buying gold coins too, in addition to gold jewellery for their liquidity and low making costs.

Akshaya Tritiya 2018 falls on 18 April(Wednesday).

Before You Buy Gold

As auspicious as the day may be, the practical advice would be to watch the price of gold and buy on that particular day only if the rate is not very high. Sometimes, due to the festival and expected high demand, the prices of gold can be higher than normal.

In case the price of gold soars remarkably high, you can choose to be prudent as Jewellers such as Thangamayil provide exclusive offers for the festive season that usually stand valid for over a week and buy Gold when the board rate is relatively low, during this period. Some people opt to buy gold in advance at lower rate and sell it on this day instead of buying. This option is also worthy of consideration. Also investors need to ensure, that any gold they buy is BIS-hallmark-certified and the dealer offers an easy buy back option.

Offers on Akshaya Tritiya

Watch out for exciting offers that they line up around Akshaya Tritiya.

Here is also a word of caution. Purchasing gold coins from banks or post offices is not an advisable option as the process of encashment or resale would be difficult and you would definitely incur losses as such gold coins would carry the logo of bank or post office and jewellers will either turn down to accept these coins or may accept it as a discounted rate. And as a matter of fact, banks themselves would not be interested in accepting the coins sold by them.

If you are planning to buy gold on this occasion, always go to a reliable jeweler like Thangamayil to be sure you get the best deal. Visit our nearest showroom or purchase from our online store

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