Buying Gold on Onam

Onam is an annual harvest festival in India that is primarily observed by Hindus. It is the official festival of Kerala. According to the lunisolar Malayalam calendar, Onam is observed when it coincides with the nakshatra Thiruvonam in the month of Chingam, which corresponds to August-September in the Gregorian calendar.

In the state of Kerala, Onam is the biggest and the most important festival celebrated with great pomp and joy. The festival is a harvest festival that pays tribute to the King Mahabali and is a 10 day event with the first and the tenth day being the most important. The festival falls within the months of August to September based on the Gregorian calendar. This festival is celebrated across different communities and is marked with carnivals, folk song, dances boat races and flower decorations.

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The festival is so big in Kerala that the Government of India promotes a tourist week in Kerala during the Onam celebrations and attracts large domestic and foreign tourists. Given the importance of the festival which is deeply entwined into the culture of Kerala, it comes as no surprise that this festival is considered highly auspicious and as a result sees a tremendous spike in the prices of gold. The precious yellow metal has is rooted in the diverse culture of India and is a sign of wealth and prosperity. Many people also believe that purchasing gold on such auspicious events will bring in more happiness and prosperity for the following year.

Significance of Gold During Onam

Gold is also used in customs and traditions related to Onam. Elders greet children and gift gold coins, women adorn themselves with gold jewellery and the purchase of new clothes are all part and parcel of the festival of Onam. Gold being an integral part in south India will see a slew of offers provided by retailers to boost sales. These include offers on price paid for certain standards of purity as well as promotional offers that provide added incentives such as discounts upon purchase for a certain amount.

Jewellery retailers across the country offer attractive offers to encourage the purchase of gold. Ajay Mitra, Managing Director of the World Gold Council, India, says that gold goes hand in hand with religious occasions especially in south India. It has a high place in the lifestyle perspective as well as being seen as a form of investment. Onam is one of the religious occasions where purchase of gold marks new beginnings and prosperity

Retailers run shopping festivals solely for gold, Jewellery Mahotsavs and marketing events to launch their latest designs. Apart from physical outlets, online retailers are also providing attractive offers. The online purchase of gold is becoming increasingly popular with many customers being attracted to the affordable pieces of Jewellery. Most of the items bought from online retailers are simple everyday jewellery which one can wear to work or on their daily routines. More elaborate pieces of Jewellery such as sets used during weddings are still bought at physical stores due to the huge amounts of money involved and the importance paid to purity and certificates of authenticity.

Whatever the preference of the buyers’ maybe, the festival of Onam is marked with the purchase of gold and those looking to buy gold either as an investment or in the form of jewellery and similar trinkets can take advantage of the attractive offers that are provided during this season. Also check Gold rate in Kerala

FAQs on Buying Gold Onam

  1. Why is 24 karat gold not used for making jewellery?

    The 24-karat gold is of the highest purity and is very soft. This softness allows the yellow metal to be easily drawn into wires and beaten into sheets. Because of this exceptional softness, it is difficult for a jeweller to craft intricate jewellery pieces with 24 karat gold.

  2. What is gold less than 24-karat made up of?

    Gold less than 24-karat is made up of an alloy with other metals like silver, platinum or copper.

  3. Should I make an investment in 24-karat gold?

    If you are looking forward to making a long-term investment in gold, then buying 24-karat gold is a good option.

  4. What to check while buying gold jewellery?

    Some of the things you must check before purchasing gold jewellery are: 1. Check if the ornament is hallmarked. 2. Check if the making charges have been applied. 3. Check if the gold jewelller is 22-karat or 24-karat. This will help you determine its purity.

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