Gold buying in India commences during India’s two biggest gold-buying festivals Akshaya Tritiya along with Dhanteras

Gold buying in India commences during India’s two biggest gold-buying festivals Akshaya Tritiya along with Dhanteras. This year Akshaya Tritiya falls on April 27 2009 where in citizens across India and especially in the south, are expected to buy gold regardless of price, as they believe it will ensure lasting prosperity.

Akshaya Tritiya

It falls on the third day of the bright half of Vaishakh month (April-May), when the Sun and Moon are in exaltation; they are simultaneously at their peak of brightness, which happens only once every year.

The Golden Link

The word “Akshaya” means imperishable or eternal – that which never diminishes. Initiations made or valuables bought on this day are considered to bring success or good fortune. Buying gold is a popular activity on Akshaya Tritiya, as it is the ultimate symbol of wealth and prosperity. Gold and gold jewelry bought and worn on this day signify never diminishing good fortune. Indians celebrate weddings, begin new business ventures, and even plan long journeys on this day.

During 2008 last year Akshaya Tritiya sales were at 48.99 tonnes, down 11% from 2007, data from the World Gold Council shows.

Buying Gold during Akshaya Tritiya who benefits – Customers or Jewellers.

A quick price glance for the past 5 years from 2004-2008 on average clearly shows that its the Jewellers, who are the ones smiling and counting their way to the banks.

Just in case, if you are a die-hard religion oriented then my adive is to order the jewellery well a month in advance and take delivery on the auspious date. As seen the prices are lower by 2.5% some 30 days prior to Akshaya Tritiya and subsequently the prices comes down as well.