Today is the auspicious day according to the Hindu calendar. Akshaya Tritiya is traditionally observed as the birthday of Parusurama, the sixth incarnation of Lord Vishnu. The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same; diamond and other precious stones; and the real estate. The legend states that any venture initiated on the auspicious day of Akshaya Tritiya shall continue to grow and bring prosperity. Hence, it is normal to see many of the new ventures, like starting a business, ground breaking for construction etc on the Akshaya Tritiya Day.
I was not familiar about this day till some time back. Thanks to the media I now know that there exists a day to buy gold. I have been writing about Gold and Gold ETF and this has nothing to do with the auspicious day. I just thought that gold is a safe bet to put the money. Akshaya Tritiya might be an auspicious day but it does not guarantee anyone of becoming prosperous. It is just the assumption of millions of people who believe that this day will bring about a favorable change to them.
If you check the gold selling status of today then I am sure you will find a sharp increase and I am glad to know that people are buying gold, it just reflects the buying power of many people. On the flip side, just think over about this particular day. Will buying gold on one particular day ensure your financial growth and bring prosperity to you? If you think the answer is yes then please let me know how. I am very eager to know about it.
I think it is more of a mass media and marketing gimmick which the jewelers and gold council have plunged into to ensure that they are in business. About ten years back, I had not heard of Akshaya Tritiya. Did it not exist then? I think it did and back then there were not so many jewelers and the buying power of people was limited. But today things have changed. Many people have enough money to spend. The jewelers just want to ensure that you spend on gold and what better way can they think other than luring on the spiritual grounds.
According to me, buying gold any day is a good sign of growing and in long run you may or may not prosper. But the value of gold will always be heading towards north in a long run. Don’t think too much about investing on gold. It is worth your money. I would suggest, Just Buy It.