Dhanteras falls on the 13th day of Krishna Paksha in the Hindu month of Ashwin or Kartika and marks the first day of Diwali. It is celebrated around the world to commemorate new beginnings and prosperity.
Dhanteras entails many different rituals and ceremonies, but buying gold is an age-old tradition that’s tied to this auspicious day. “Dhan” means wealth and “Teras” means the thirteenth day, therefore signifying a day honouring wealth and abundance. Buying gold on this day dates back to centuries, and is believed to bring good fortune and blessings. Here are some reasons why gold is an invaluable asset, even in 2024:
According to Hindu mythology, buying gold on Dhanteras is not only believed to bring home prosperity but also to multiply assets. Gold is worshipped on Dhanteras and during Lakshmi Puja. In addition to buying gold, you can also invest in Soverign Gold Bonds, which eliminate the risks conventionally associated with physical gold like storage, theft etc. while still carrying the same benefits.
Notwithstanding the religious significance, buying gold is also a pragmatic step towards sound financial planning. Gold is reliable and safe from the vagaries of economic volatility and inflation.
Investing in gold can help diversify your portfolio and strengthen your financial standing in addition to fixed deposits and SIPs.
Gold does not have geographical restrictions like stocks or mutual funds. Its rates might vary, but overall, gold is seen as a status symbol around the world and can be sold anywhere. Owning gold is likened to privilege and prosperity. So, in addition to being a wise financial investment, gold can also help elevate your social standing.
By buying gold this Dhanteras, you’re not just celebrating a time-honoured tradition, but also bolstering your financial future. Be it a small gold coin or an elaborate jewellery, invest in gold and make an invaluable contribution to your overall financial health.
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Disclaimer: The article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of The South Indian Bank Ltd. or its employees. The South Indian Bank Ltd and/or the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial/non-financial decisions based on the contents and information’s in the blog article. Please consult your financial advisor or the respective field expert before making any decisions.