Auspicious Days to Buy Gold in 2020

Gold is considered to be one of the most precious metals around the globe. In India, the yellow metal is not only considered to be an asset, it is also one of the most used metals for making jewellery.

In India, gold is no longer just looked at as a status symbol but also considered to be a good investment. There is no denying the fact that gold is one of the safest investment options. It is also a very high-yielding investment option.

India, being a multi-cultural country, people across different states consider different days and occasions to be auspicious for buying the yellow metal. With respect to the different cultural and religious references, people across the country choose to buy the precious metal on different occasions. The auspicious days for buying gold in the year of 2020 have been listed below.

Auspicious days and dates to buy gold in the year of 2020:

Pushyami

Pushya Nakshatra is one of the nakshatras. It is also known as Pushya, Pooyam, Pushyami, or Poosam. In India, certain time slots during Pushyami are considered to be auspicious for conducting any sort of financial transactions. 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 days of Pushya Nakshatra. The festival is celebrated on different days throughout the year.

Here is a list of days when Pushya Nakshatra will be celebrated in 2020:

12 January 2020 21 July 2020
8 February 2020 17 August 2020
6 and 7 March 2020 14 September 2020
3 April 2020 11 October 2020
30 April 2020 7 and 8 November 2020
28 May 2020 5 December 2020
24 June 2020 1 January 2021

Makar Sankranti – 15th January 2020

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 an auspicious day to purchase gold. This festival also signifies the concept of peace and prosperity. In 2020, Makar Sankranti will be celebrated on 15 January 2020.

Ugadi or Gudi Padwa - 25th March 2020

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.

Although the dates for the new year may vary from state to state, Ugadi and Gudi Padwa will fall on the 25th of March 2020.

Akshaya Tritiya - 26 April 2020

Another important day almost all Indians buy gold on is Akshaya Tritiya. It is considered to be one of the most auspicious days 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 2020, Akshaya Tritiya is on the 26th of April.

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 the 17th of October to the 25th of October in 2020.

Dussehra - 25 October 2020

The last day of Navaratri, Durga Puja is known as Dussehra. This is 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 2020, Dussehra will be celebrated on the 25th of October.

Diwali/Dhanteras - 13 and 14 November 2020

Dhanteras is one of the major festivals in India wherein the demand for gold increases to the great extent. 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. In 2020, Dhanteras will be celebrated on 13 November, followed by Diwali on 14 November.

Balipratipada - 15 November 2020

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 2020, Balipratipada will be celebrated on the 15th of November.

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.

News About Auspicious Days to Buy Gold in 2020

  • Gold to touch Rs.5,000 due to coronavirus push

    The rates of gold might hike up to touch a record of Rs.5,000 per gram in the next few days. This would be led by the outbreak of the coronavirus which has also been impacting the economy. The yellow metal prices have been expected to climb higher and Karnataka has about 25,000 jewellers, with around 8,500 of them based in Bengaluru. More than 5 lakh people are employed in this sector. They are now facing a lot of hardship as most businesses in this space have been closed.

    The gold rates on Tuesday stood at Rs.4,800 per gram. TA Sharavana, president of Karnataka Jewellers’ Association had said that the dip in bank interest rates and the stock market have driven the prices of gold prices to increase. He had added that the trend is set to continue for some more time and that the price will cross Rs.5,000 per gram.

    He had said that although the shops will remain closed, a lot of people want to buy gold on Akshaya Tritiya and they are now booking gold coins through online platforms and also requesting them to create the bill for 26 April, the day of the festival. He had confirmed that the gold would be delivered once the lockdown has been lifted.

    Right now, people do not feel that gold is of high priority and they will not step out of their houses just to buy gold. This could continue for the next six months.

    23 April 2020

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