Lord Rama had killed Ravana and Goddess Durga had slain the demon king on this day. To celebrate their victory and the beginning of good times, people buy gold. It is no hidden fact that since ages, gold has held a high significance in Indian culture.
Auspicious Days To Buy Gold In 2024
Navratri is an annual festival celebrated with much fanfare across India for nine days. The festival celebrates the victory of Goddess Durga over the evil demon Mahishasura. It is a significant festival for the people of West Bengal and Gujarat.
The day is celebrated on the 13th day of Krishna Paksha in the month of Kartik (Hindu month) and holds immense significance in Hindu culture. Dhanteras is considered a highly auspicious day for wealth and prosperity just like the name. On this day, it is believed that buying gold brings luck and prosperity.
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Gold Rate In India Today: December 06, 2024
One of the best frameworks for choosing these allocations is through the lens of economic risk. Remember, gold is not just a commodity, but a multifaceted asset that requires a nuanced approach for optimal investment and cultural satisfaction. The “right” time really depends on a bunch of things like what’s happening with the economy, inflation, and what you’re hoping to get out of your investment. Each option has its own set of pros and cons related to timing, liquidity, and potential returns, so choose the one that aligns with your investment goals.
- Worshiping Shri Lakshmi-Ganesh Yantra on Diwali brings wealth, prosperity, happiness and peace.
- The ritual of buying gold during Diwali is equivalent of inviting Lakshmi, the Goddess of wealth and prosperity at home.
- Diwali is a festival dedicated to Goddess Lakshmi the deity of good health and prosperity.
- You have to study the market conditions to make the right decision.
- Studying the current gold market prices and considering your own financial goals will assist you in making informed decisions.
Guru Pushya Yoga
He is personally invested in a gold and silver IRA, owns physical gold and silver, as well as other investments in his retirement portfolio. While he’s a passionate precious metals investor, he is not a financial advisor and his writings should not be considered as financial advice. Always consult with a financial professional before making any investment decisions of your own. Gold has long been a coveted asset, symbolizing wealth and prosperity.
On this day, King Bali is believed to have returned to Earth, symbolizing prosperity and generosity. Purchasing gold during Balipratipada is considered auspicious, signifying a desire for wealth and well-being. People believe that purchasing gold on Dhanteras brings good luck and wards off financial troubles. It is customary to buy gold coins, jewelry, or utensils on this day, signifying the accumulation of wealth and the blessings of Goddess Lakshmi, the deity of wealth and prosperity. Furthermore, many people view Makar Sankranti as a time to make significant investments, and gold is chosen for its enduring value and cultural importance. This tradition not only aligns with the festive spirit of Makar Sankranti but also reflects the belief in ushering in prosperity and abundance by purchasing this precious metal.
Trading on technical auspicious day to buy gold is best for active in and out trading of gold instruments rather than physical gold investment. A breakout above a previous long-term high could signal the next bull run, while overbought conditions warn of short-term tops. Gold futures prices typically front run spot prices as leveraged speculators react swiftly to news and events. Monitoring futures positioning extremes also provides perspective—numerous new long contracts likely indicate an exhausted crowd on one side. During certain periods of high demand, the supply of gold coins and gold bullion, in particular, can be tighter than usual.
Buying in larger amounts, slightly less often will benefit from paying lower premiums on your purchase. The Fear of Missing Out (FOMO) can tempt naive investors into buying gold after it’s price has pumped massively. Greed and fear can typically disrupt an investors plans on when they intended to buy or sell gold. The price of gold can sometimes be volatile, making it a liquid asset but also a risky one in the short term. It’s important not to panic or get too excited during big weekly price moves.
