Buying gold on Diwali is more than just a financial investment; it is a tradition steeped in culture and faith. Diwali marks the victory of light over darkness, and gold, being a symbol of purity and wealth, is purchased to attract prosperity. On Dhanteras, the first day of the Diwali festival, people buy gold as it is believed to bring good fortune for the coming year. The auspicious timings, known as 'Shubh Muhurat', play a crucial role, as many believe buying gold during these moments amplifies its positive energy. Timings like Pradosh Kaal and Vrishabha Kaal are particularly considered auspicious. Beyond tradition, buying gold on Diwali also holds financial significance, as gold tends to appreciate over time, making it a dual-purpose purchase – cultural fulfilment and a smart investment.
Why Diwali is the best time to invest in gold?
Diwali is regarded as one of the best times to invest in gold for several reasons. The festival itself is symbolic of wealth and prosperity, and buying gold during Diwali is considered to attract good fortune. Additionally, the gold price during this period may offer good opportunities for investment as jewellers offer discounts and schemes to attract buyers. Historically, gold has proven to be a stable and appreciating asset, making it a safe investment choice. Moreover, with the Indian tradition of gifting gold on special occasions, the demand surges, often leading to price fluctuations. However, those investing during Diwali benefit from both the emotional and financial aspects of owning gold, as it serves as a long-term asset and holds significant cultural value.
Can you buy gold on Diwali Amavasya? Myths and facts
Diwali Amavasya, the new moon night, is considered an auspicious time in Indian culture for celebrations and rituals. However, some believe that purchasing gold on this day may be inauspicious due to the association of Amavasya with darkness and negative energy. In reality, these are merely myths, and there is no substantial evidence to suggest that buying gold on Diwali Amavasya invites bad luck. In fact, many choose this day to buy gold, considering it a time to dispel darkness and bring light, symbolised by the shiny metal. Gold purchased on Diwali Amavasya is believed to usher in prosperity and positivity. The facts reveal that whether one buys gold on Amavasya or any other Diwali day, the significance remains the same – it's a celebration of wealth and a timeless investment.
The significance of buying gold on Dhanteras and Diwali
Dhanteras and Diwali hold special significance for gold buyers in India. Dhanteras, celebrated two days before Diwali, marks the beginning of the festival and is considered the most auspicious day to purchase gold. On this day, it is believed that buying gold brings good luck and ensures prosperity in the household. Similarly, buying gold during Diwali, a festival symbolising wealth and prosperity, is deeply ingrained in Indian traditions. Gold, being a symbol of purity and affluence, is often passed down through generations, making it not only a cultural asset but also a sound financial investment. Whether in the form of jewellery or coins, gold bought during Dhanteras and Diwali is cherished as a token of fortune and wealth, with long-term financial benefits.
When to buy gold during Diwali 2024?
In 2024, Diwali presents several auspicious days and times to purchase gold. Dhanteras, which falls just before Diwali, is considered the most significant day for gold purchases. On this day, gold price fluctuations may occur due to increased demand, but it is regarded as the most prosperous time to buy. For those looking to make the most of their investment, checking the gold price early on Dhanteras can help. Besides Dhanteras, Diwali Amavasya is another excellent day for purchasing gold. Shubh Muhurat, or auspicious timings like Pradosh Kaal, offer optimal moments for those who believe in enhancing the positive effects of their purchase. Monitoring the
gold price and buying during these times can ensure you get the best value for your money while honouring tradition.
Auspicious muhurat for buying gold on Diwali
- Dhanteras: The most auspicious day for purchasing gold.
- Pradosh kaal: A favourable time on Diwali day, best for buying gold.
- Vrishabha kaal: Another highly regarded time for buying gold during Diwali.
- Lakshmi pujan: Many believe buying gold during the Lakshmi Pujan enhances wealth.
- Amavasya (New Moon): An ideal time for those who wish to dispel negativity and bring prosperity through gold purchases.
Should you buy gold before or after Diwali?
- Before Diwali: Buying gold before Diwali, particularly on Dhanteras, is considered highly auspicious and symbolises inviting prosperity.
- After Diwali: Post-Diwali purchases can be less expensive, as gold prices may stabilise after the festive demand subsides.
- Dhanteras: Offers the most culturally significant and auspicious time for gold buying.
- After Amavasya: Some prefer purchasing gold after the Amavasya, especially for investment purposes, as prices may be lower.
How gold loans can maximise your investment during Diwali?
- Leverage your gold for liquidity: Taking a gold loan allows you to use your existing gold to access immediate funds for further investments.
- Flexible repayment options: Gold loans often offer easier repayment schedules, helping you invest wisely without financial strain.
- High loan-to-value ratio: You can borrow a significant amount, using your gold as collateral, allowing you to reinvest during Diwali.
- Utilise festive offers: Diwali often brings attractive loan rates and offers, making it an ideal time to maximise your gold's value.
Auspicious days to buy gold in 2024
- Dhanteras (November 1, 2024): Traditionally the best day to buy gold.
- Akshaya Tritiya (May 10, 2024): Another highly auspicious day for purchasing gold.
- Gudi Padwa (April 9, 2024): Celebrated in Maharashtra, an ideal day for buying gold.
- Diwali Amavasya (November 3, 2024): Considered a favourable time to buy gold for prosperity.
- Pushya Nakshatra days: These days are also ideal for gold purchases throughout 2024.
How gold loans can help you buy more gold during Diwali?
- Gold loans can offer an efficient way to buy more gold during Diwali by using your existing gold as collateral.
- As gold prices fluctuate during the festive season, taking a gold loan allows you to leverage the value of your current holdings to make new purchases without depleting your cash reserves.
- Additionally, gold loans typically come with flexible repayment terms, allowing you to plan your finances better while expanding your gold investment.
- This approach ensures you can make the most of Diwali offers on gold without financial constraints, helping you accumulate more wealth during this auspicious time.
Comparing gold prices and loan options: Pre-Diwali vs. Post-Diwali
- Pre-Diwali: Gold prices typically rise due to high demand; many jewellers offer festive schemes.
- Post-Diwali: Prices may stabilise as demand reduces, potentially offering better investment opportunities.
- Loan options pre-Diwali: Attractive offers on gold loans are often available with festive discounts.
- Loan options post-Diwali: Interest rates may remain steady but offers may reduce post the festive period.
