Ugadi – A Great Time To Buy Gold

India is a land of culture and traditions, where members of different faiths and communities participate in festivals across religious lines with equal fervour. One of the biggest festivals in South India is Ugadi, or Yugadi, which is celebrated across the Deccan, with Karnataka, Telangana and Andhra Pradesh leading the celebrations. Known as Gudi Padwa in Maharashtra, this day is viewed as the beginning of the Hindu calendar, signifying the start of a new year. It is a day filled with joy and excitement, where people pray and mark the start of a new life, one which aims to usher in peace, prosperity and good luck.

Significance of Ugadi

Derived from the Sanskrit words Yuga and adi, Ugadi means the start of a new age and is viewed as an extremely auspicious occasion in South India. It is said that the universe was created by Lord Brahma on Ugadi, thereby marking the celebration for this festival. While the date for Ugadi is calculated based on the lunar calendar, it signifies the start of spring, with celebrations starting from early morning. In North India, this period marks the beginning of Vasant Navratri, with families gearing up for a week of fun and frolic.

People traditionally wear new clothes and decorate their homes, hoping to welcome the New Year on a bright note. Apart from clothes, people also invest in valuables like gold or property, as it is viewed as an auspicious day to embark on a new journey.

Gold and its connection with Ugadi

Ugadi is a good time for people to purchase gold, with sales picking up during the week leading to Ugadi and on the day itself. Most jewellers see a 10-15% increase in sales during this period, with shops packed to the rims with shoppers. Ugadi is also believed to be the right time to start something new, with a number of people purchasing gold in the hope of it offering great returns, multiplying their investment. Gold has always been an important part of our heritage and way of life, and Ugadi provides just another reason for people to purchase it.

Gifting is also common during this festival, with gold jewellery being a popular gifting option among a few. Small items like gold earrings, chains or rings are gifted to loved ones, signifying the addition of colour and brightness in their life. With people aiming to wear new clothes and adorn themselves for this festival, they purchase gold jewellery to welcome the New Year. Gold, which is seen as a symbol of prosperity is purchased with the hope that it will help the family prosper and grow over the coming year.

Apart from gold, purchase of other precious metals like silver and platinum also peak during Ugadi, with people open to spending more on this special day.

Offers galore on Ugadi

Jewellers across Karnataka, Andhra Pradesh and Telangana offer huge discounts during Ugadi, aiming to cash in on the festive fervour. Reduced prices lead to an increase in sales, ensuring that it is a win-win situation for everyone involved. Some of the bigger brands offer free gold on purchase of certain items or have lucky draws wherein shoppers can win gold coins, enticing people to step out and purchase gold. Free gifts on each purchase are offered by a number of jewellers, making customers feel welcome and ensuring that they have a great start to their new year.

Ugadi is an extremely important festival in India and gold adds more colour to it, brightening the day for everyone involved.

Ugadi and South Indian States

Ugadi, as pointed out earlier, is celebrated as the New Year in South Indian States of Karnataka, Andhra Pradesh, Telangana, Tamil Nadu and Kerala. THis April 8th, indulge in shopping gold in one of the most auspicious days to buy gold in the country. Check out the gold rates today in:

States

• Karnataka
• Andhra Pradesh
• Telangana
• Tamil Nadu
• Kerala