A popular time of year for many gold bullion investors is the Hindu festival of light, otherwise known as Diwali. Choosing to invest in gold at this time of the year is a wise move if you keep in mind the need to make purchases before the likely increase in the gold price which often peaks at Diwali.
In 2018 Diwali is on 7th November and gold has a special part to play in this Hindu festival, so make sure you get your loved ones a special present that they can rely on when times get tight.
Discover how the Hindu festival of Diwali affects the gold bullion market and what your options are.
When should you purchase your gold gifts for Diwali?
Recently, we have seen more and more people choose to invest in gold bullion as a preferred gift for Diwali. It’s been a tradition for many years to celebrate the festival with the offering of gold, but more people are turning to gold bullion bars and gold bullion coins as alternatives.
The increase in demand around this time of year means that the gold price often rises both in India and abroad. It’s seen as an auspicious time to buy gold for the year ahead so many people see an advantage in connecting their investment decisions here with their personal interest in buying gold around Diwali.
What is Diwali?
Diwali is a Hindu festival that is celebrated in Indian communities across the globe and it falls on the 7th November 2018. Diwali is commonly known as the festival of light, because of the original story behind the festival and its connection to gold.
According to legend, the son of King Hima was prophesied to die from a venomous snake bite on the fourth night following his marriage. He was saved, however, because his clever wife gathered all of the family’s gold and placed it at his door, which resulted in the snake being disoriented by the light reflecting off the shiny surface, so it left and the king’s son survived.
Many Indian families have given each other gifts of gold during Diwali in an age-old tradition that harks back to this legend. Gold is seen as bringing the person receiving the gift luck, wealth and hope over the coming year, which is something gold bullion investors have been capitalising on for years.
Has the gold market in 2018 been affected by Diwali?
One of the largest markets for gold bullion products is India and this year, in the run-up to Diwali, there has been a huge increase in the price of gold in India compared to other international gold markets. The increase is being driven by rising demand in the local market but it has caused some problems too as supply struggles to keep pace.
Over here in the UK, however, we’re still able to offer a steady supply of gold bullion products to those looking to make a purchase for Diwali. Take a look at our special selection of gold gifts and see if you can find a beautiful item for your loved ones.