Gold is considered a precious metal all over the world and its significance in India goes way back to the times of kings, queens and kingdoms. In India, gold is often considered more like jewellery, rather than a safe-haven asset.
The possession of this precious metal in an Indian household depicts more of the family’s social status rather than a financial asset. The metal has often been referred to as a family heirloom passed on from generations together bearing a more religious and cultural significance rather than a financial one. However, since the recent past, people in the country have been more interested in investing in gold as an asset and as a means of securing loans as well. In India, gold is now considered to be the safest and a high-yielding investment option for the people.
In India, there are several days in a year which is auspicious for families to buy gold in order to assure financial prosperity in accordance to various religious and cultural references.
Given here is a List of the Dates in 2019 that will be the Best Times to Buy Gold Products:
One of the most important festivals in the country and celebrated throughout India, Makar Sankranti is a harvest festival and is the first to arrive in a year. Sankranti marks the onset of the harvest period which is considered to be an auspicious day to purchase gold. This festival also signifies the concept of peace and prosperity. It is celebrated on:
- 15th January 2019
Ugadi and Gudi Padwa mark the beginning of the new year according to the Hindu calendar. These festivals vary according to the state as well as with the different sects of people. Ugadi marks the new year for the people of Andhra Pradesh, Karnataka and Telangana. Gudi Padwa is majorly the celebration of new year in Maharashtra. Onam is celebrated in Kerala along with Vaisakhi in Punjab. During these festivals, jewellers witness a surge in gold prices leading to an increase in gold sales as it marks the harvest festival in these days along with the new year, which signifies new beginnings and prosperity.
The exact date for the new year differs from one state to another. However, Ugadi and Gudi Padwa are celebrated on:
- 6th April 2019
The major festival where the demand for gold increases to the greatest extent in India is Dhanteras. The name Dhanteras signifies the worship of the Goddess of Wealth, Lakshmi. Dhanteras marks the first day of the festival of Diwali in India. In the Hindu scriptures, this day is considered to bring prosperity, wealth and health to the people who buy or invest in the metal. Due to this, irrespective of the global prices, value of the dollar or the rupee, demand for gold amongst local jewellers in the country is on an all-time high. Dhanteras is celebrated on:
- 25th October 2019
Pushya Nakshatra is the major festival in the country when people wish to conduct any sort of financial transaction. It can be buying gold, land or any kind of business investment. Due to this, gold sales, as well as gold purchases, are comparatively high on the day of Pushya Nakshatra. It is considered to be the most auspicious day in Hindu scriptures as Goddess Lakshmi was said to be born on this day. The festival is celebrated on different days throughout the year.
Here is a list of days when Pushya Nakshatra will be celebrated in 2019:
21st January 2019 4th July 2019 18th February 2019 1st August 2019, 28th August 2019 17th March 2019 25th September 2019 14th April 2019 22nd October 2019 11th May 2019 18th November 2019 7th June 2019 15th December 2019
Another important day almost all Indians buy gold on is Akshaya Tritiya. It is considered to be the most auspicious day in the Hindu calendar specifically to buy gold. On this day, the demand for gold amongst local jewellers in the country is seen to surge significantly. According to the Hindu culture, buying gold on this day signifies prosperity and wealth. In 2019, Akshaya Tritiya falls on:
- 7th May 2019
The last day of Navaratri, Durga Puja is known as Dussehra. It is another one of the most important festivals celebrated by Hindus in the country and abroad. The purchase of gold increases all over India as it has a special significance in the Hindu culture when Goddess Durga defeated the demon, Mahishasura signifying the victory of good over evil. In 2019, Dussehra will be celebrated on:
- 8th October 2019
Another important festival Indians all around the world celebrate is Navratri. Even though this festival is celebrated by Gujaratis around the world, it is also known differently amongst different sects of people. The festival of Navaratri celebrates the victory of good over evil as a tribute to Goddess Durga. It is celebrated for 9 days and nights.
People from all over the country and Indians all over the world purchase gold during the period of this festival as it signifies new beginnings and good fortune. Navaratri will be celebrated from:
- 29th September 2019 to 7th October 2019
The last day or the third day of Diwali is known as Balipratipada. This day is when most Indians indulge in buying gold as it marks the end of auspicious time according to the Hindu culture. It is also known by Bali Padyami or Bali Padva in different parts of the country. In 2019, Balipratipada will be celebrated on:
- 28th October 2019
Even though these days, according to the Hindu scriptures and calendar, are regarded as auspicious for the purchase of gold in the country, Indians also buy gold on various other occasions as well, mainly during weddings or during birthdays as well in order to wish prosperity and wealth to the people. Price of gold in India surges during the wedding season starting from June to September and then in December to February.