Akshaya Tritiya is a particularly important day in the Hindu religion. This year, it will be celebrated on 18th April, just a few short weeks after the Western Easter celebrations. As is the case with Diwali and almost all other Hindu celebrations, gold will be a very important part of the festivities.
Developments in the Indian gold market regularly have important ramifications all around the world. For reasons deeply embedded in cultural and religious traditions, India trades the highest volume of gold in the world. So at times like this, when Hindus in India and around the world turn their attention to the gold market – it’s important for the rest of the world to pay attention.
Akshaya Tritiya: In summary
At first, Akshaya Tritiya sounds like a foreign concept – but you’d be surprised at the similarities with a festival we celebrate right here at home: Easter. Like our own celebrations, Akshaya Tritiya is celebrated in the spring, the date changes each year, and it celebrates the concepts of renewal and new life that come with the changing season.
A word that often comes up in relation to Akshaya Tritiya and gold is ‘auspicious’. Hindu communities believe that the festival is a particularly auspicious time to buy gold. The word’s meaning lies somewhere between ‘favourable’, ‘lucky’ and ‘wise’. In the Hindu culture, buying gold is always considered a wise idea – and doing so on particular religious festivals even more so.
There are many different variations of tales that first inspired the festival. The most notable of these features the character of Kuchela, and his childhood friend King Krishna. After finding himself and his family struggling to afford their living costs, Kuchela decided one day to set out and seek help from his old friend. As a humble gift of good will, he bought with him a small packet of rice.
When he reached the King, he was warmly welcomed, but was so overwhelmed by the life of luxury that his old friend lead that he felt far too embarrassed by his small gift of rice to present it. Nonetheless, the King noticed that he’d bought the rice – and was delighted by the humble offering. They spent some days together and enjoyed seeing one another again – so much so that in his relief, Kuchela forgot to ask for the King’s help.
He remembered as he walked home what he’d forgotten, and was terrified at the prospect of having to tell his family he’d gone all that way in vain. By the time he got home however, divine intervention had solved the problem for him. His home had been transformed into a magnificent palace, and his family were living a life of luxury.
He realised that his old friend the King was in fact a divine entity, who used his powers to reward Kuchela for the humble offering of rice that he’d given despite his poverty. Since then, the stories say, Hindus have celebrated the festival on the day Kuchela met Krishna as a symbol of wealth, security and new life. In the spirit of the story, sharing and gift giving are important parts of the festival.
Akshaya Tritiya and the gold market
It goes without saying therefore, that Akshaya Tritiya is an important time for the gold market all over the world. In India in particular, it’s one of the most lucrative days to sell gold across the whole year – and merchants will often open longer hours than usual and offer gold coins, gold bars and jewellery adorned with Hindu religious iconography to help commemorate the occasion.
Buy gold bars and gold coins this Akshaya Tritiya
If you’re planning to celebrate Akshaya Tritiya this year, then you might want to take advantage of this day to invest in your family’s future security and prosperity in the gold market. Even if you’re not from a Hindu background, perhaps this auspicious time of year will prompt you to make a purchase you’ve been considering for a while. With the price of gold remaining competitive and the market outlook looking strong – there’s certainly a lot of potential to enter the gold market.
For those looking to celebrate religious traditions at this time of year, the popular Swiss gold merchants PAMP Suisse have a range of faith-related gold bars for sale. Whether you want to commemorate the goddess Lakshmi this Akshaya Tritiya or the Christian cross this Easter – there’s plenty of opportunities to do so.
These products come in a range of sizes, so you tailor your gold investment to your personal budget, with offerings from 5 grams right up to 1 ounce.
Get the best gold investment this spring with UKBullion
Smart investors looking to make the best of the gold market this spring may choose to do so in the weeks leading up to Akshaya Tritiya. With demand likely to rise over the festivities, there’s a good chance that prices may experience a bump over the same period. Whether you’re a casual investor or looking to get your own Akshaya Tritiya gold investment, getting ahead of this rush could be well advised.
Stay tuned to our blog right here to get more regular updates on big developments in the gold market, or have a look over our range of gold bars and gold coins to get started making your own gold investment today.