Physical gold and silver are not like other investments. They are long-lasting tangible assets that have real value, unlike paper currency or bonds that must be redeemed at a certain date. And unlike stocks, the price of gold and silver is more stable. You can verify this for yourself merely by tracking gold rate today in Kadapa or Orissa for a week.
The precious metals market is also unique in that it’s a global business with round-the-clock trading. So when you factor in time zones, there are always buyers and sellers somewhere in the world. Therefore, the timing of your buying decision isn’t as important as it is with other investments
The festival of Raksha Bandhan is considered to be one of the most important occasions in the Indian culture when one can buy gold. The festival is celebrated usually in the month of August. The word “Raksha” means protection and “Bandhan” signifies a bond or relationship. As per Hindu mythology, the most pious bond between brothers and sisters is celebrated on this day with the help of a sacred thread or a rakhi which signifies their affectionate relationship. The sister ties this thread to her brother’s wrist and he in return promises to protect her. It is believed that buying gold on this day brings good luck and prosperity to the family members.
The next auspicious occasion for buying gold is Dhanteras is generally celebrated in the winters. On this day, devotees worship Lord Dhanvantari who was born from the ocean during the churning of the sea (Samudra Manthan). He was an incarnation of Lord Vishnu who is considered the lord of wealth and prosperity. Hence, it is believed that buying gold on this day brings good fortune to everyone. People believe that it helps in eradicating poverty from their lives. Dhanteras is also the most common festival for gold purchase when almost everyone is looking up gold price today in Ajmer or for whichever city they are from.
Navratri is a nine-day festival that is celebrated in October (September-October) to worship the goddess Durga for nine days. It is believed that on this occasion, goddess Durga fought against the demon Mahishasura to restore peace and happiness in the universe. The first day of Navratri is marked as Pratipada, while the ninth day is called Navami. Women buy gold on each day of Navratri.
Dussehra, also known as Vijayadashami, is the tenth day of Navratri which falls on the tenth day of Ashvin month according to the Hindu calendar. It is considered to be an auspicious occasion for buying gold in India. On this occasion, it is believed that Lord Rama defeated Ravana to protect his wife Sita and also to bring her back from Lanka after she was abducted by Ravana.
Akshaya Tritiya falls in April or May every year and it is considered to be one of the most auspicious occasions for buying gold. According to Hindu mythology, Akshaya Tritiya marks the beginning of Treta Yug
Some other events where gold is used and necessary include:
- Poush Sankranti, which is the first day of Poush month as per the Bengali calendar
- Dhanu Sankranti, which is celebrated on 15th December as per the Bengali calendar and is often referred to as Mithuna Sankranti by other regions in India.