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Akshaya Tritiya is also known by the name of Akha Teej. It is a Hindu and Jain festival that is celebrated annually. It is celebrated in the month of Vaisakh on the third tithi of the bright half of the month. It is a festival that signified unending prosperity.

The literal bifurcation of the word can be understood in a sense where Akshaya means never decreasing. It is used in the positive sense where the traditions relate it to never decreasing joy, prosperity, or success. The meaning of Tritiya denotes time which signifies the third phase of the moon.

On this day, the followers and believers of this festival are heavily intended on buying gold because it is considered a symbol and good luck for increasing wealth and prosperity.

Gold in itself has a lot of abstract importance in Indian culture. Apart from being an asset or an investment, gold is one of the most prestigious and traditionally rich commodities.

The sale of gold increases superficially in Akshaya Tritiya but the question remains the same which is a concern for people all over the country-

 

" Is it auspicious to buy gold on Akshaya Tritiya?”

buy gold coin on Akshaya Tritiya

 

Surely, it is considered a symbol of goodwill and religious belief to buy gold on Akshaya Tritiya but over the years with changing times, a lot of practical problems have also come up with the purchasing of gold.

Gold will never lose its significance on a festival like Akshaya Tritiya. the essence of buying gold will always be auspicious. Statistics confirm the essence of this festival as the sale of gold jewelry or gold coins increases by 15.25% on this day.

10 Reasons To Purchase Gold On Akshaya Tritiya

Here is a list of reasons which denote why the purchase of gold is considered auspicious on Akshaya Tritiya-

1. This festival is the beginning of the Sat-Yug in Indian mythology so it adds more essence to the purchase of gold, which is a symbol of wealth and prosperity.

2. Akshaya Tritiya is also a great day for the worship of Maa Lakshmi and appeasing her with special pujas and gold offerings.

3. It is an auspicious day for Jains to purchase gold because this day is also marked as the day when devotees from Ayodhya bought gold to offer to Tirthankara Rishabhdev.

4. Akshaya Tritiya is also considered one of the best days for the birth of a child as it is considered that great leaders are born on this day.

5. It is one of those rare days which is blessed with auspicious planetary orientation. On this day, the sunshine and the moonshine are at the peak of their radiance.

To maintain the purity of the festival and cease the malpractices that have surged in the selling of gold on Akshaya Tritiya, the government has taken several steps.

A closer look at the gold situation is presented here in facts and figures from recently collected data-

6. “ All that glitters is not gold”, this tagline has been the frontline of many awareness campaigns run by the Bureau of Indian Standards( BIS ). This primarily focuses on the quality of the gold which is sold in the market these days.

Many non-licensed jewelers sell their gold jewelry or gold coins without the hallmark. The price paid for that quality of gold is surely not fair and it is a method of fooling the population on days like Akshaya Tritiya where there is a high purchase of gold.

7. BIS stressed that consumers must be aware and must check for a hallmark on gold jewelry to ensure quality. Hallmark for jewellery is a symbol of assurance. BIS logos represent hallmarks for jewellery.

The purity of gold is measured in carat and fineness, for example- 22k916 for 22 carats. It is advised that consumers check the hallmarks using magnifying glass before purchasing gold.

8A large number of licenses have also been canceled by the BIS to ensure that quality products reach the consumers and the essence of such a prestigious festival is not faded because of the malpractices.

9. In the year 2020, 488 inspections were conducted by the BIS in Chennai and a total of 48 samples failed the purity test.

10. Approximately 2.6 crores of gold articles were hallmarked in the southern region including Telangana in the year 2020.

Given below is a chart that shows the average annual price of gold in India from 2004 to the present.

 

YEAR

RUPEES

2015

26343.50

2016

28623.50

2017

29667.50

2018

31438.00

2019

35220.00

2020

48651.00

2021

48720.00

2022 (till today)

49390.00

 The price is denoted as 24 karats per 10 grams.

Conclusively, we can say that buying gold on Akshaya Tritiya is surely auspicious but we as consumers should understand the dignity of the festival and not fall into the hands of malpractices that exhaust the essence of this day.

The government has also focused on this issue majorly in recent times but ultimately it is upon the general consumers to follow the right practices and enrich the essence of Akshaya Tritiya.

 



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