The Practice of Buying and Gifting Gold on Akshaya Tritya

Noted for its different colors of celebration, Akshaya Tritya harbors countless opportunities for the beginning of new ventures and businesses. On this day, people perform diverse sets of pujas and make various offering to the gods. While people in some parts of the country worship cows, there are some who turn to elephants and horses to be bestowed with wealth, luck and prosperity.

Akshaya Tritya, by housewives all over India, is considered to be the ideal day to procure new gold and silver items. Jewelry stores open up till late to accommodate women who are looking to buy new gold items. As ‘Akshaya’ translates into ‘eternal’ when taken from Sanskrit, it is widely believed that the gold items worn on this day bring good fortune that is everlasting.

Often, people and tourists from abroad wonder that why is it so important to wear gold on the day of Akshaya Tritya. In India, especially in the Hindu households, gold is considered to be a metal that represents class, stature, and most importantly good fortune. Even the families in India which happen to be less lucky in finances procure a very small quantity of gold, sometimes the one least in quality, but make sure they have it. Gold, in India, is not just a metal, but a bond between the contemporary world and the world of gods and mythology.

Akshaya Tritya falls in the month of Shraavan, which happens to be the ideal month for Hindu marriages. Any marriage in India happens to be incomplete without the presence of gold, and hence Akshaya Tritya, due to the belief that it is free from all malice effects, is chosen to be the day to procure gold in substantial quantities.

However, one must also be careful about the kind of gold they opt for. It is reported that paper gold is more affordable and tax saving than physical gold. Gold Exchange Traded Funds are also an intelligent alternative to physical gold and are bought in huge quantities by customers all over India. One must also check for proper hallmarking on the gold they buy as it represents quality and purity of the metal. The government of India strictly recommends checking of the hallmarking so that no one is fooled by the shopkeepers.

Many believe that River Ganga descended from the heavens to the Earth on the day of Akshaya Tritya. Also, there are mythical legends to support the fact that Ved Vyas and Lord Ganesha began writing the Mahabharata on this very day. Therefore, with the huge amount of sentiment and mythical perspective that links itself to Akshaya Tritya; the people do not miss out on the celebrations.

People should also make sure that they don’t overbuy gold and stuff it inside. Though the price of gold has been rising over a period of time, it must be noted that overbuying it may just lead to an increase in liability.

Akshaya Tritya comes with the hope of good fortune and luck and gold is the face of this hope, the language of this promise, and therefore the choice of countless families all over India on this auspicious day.