Every spring Hindus in Nepal and India celebrate this holiday called Akshaya Tritiya.
The festival's date varies year to year because it is set according to the lunar Hindu calendar. It starts today this year, Wednesday April 18th.
Akshayya Tritiya is a sacred widely popular festival which carries with it good luck and triumph in terms of new plans such as weddings, big investments such as buying property or any new beginning. It is a time to celebrate prosperity.
Many Hindus buy gold during this time of year because it's value holds throughout time and with the festival being a auspicious period in Indian culture money is spent on items that retain value.
Gold and silver spot prices usually rise during this period every year because so much of the shiny metals are sold. India is a massive market and their people are more connected to gold and it's inherent value as an investment and an article to gift and wear as jewellery.
Shout out to all my Indian friends, hope you enjoy your festival and of course all your new gold!
I love gold,
Picture credits: zbiz.com
Very interesting, you are right they are much more intouch with real wealth than most humans. Thanks for the post brother, 😎👊
Thanks for stopping by. It was a good time for a gold related post 😎
Someday Americans will figure out what real wealth is.
Naw they're too busy eating cheeseburgers and racking up credit card debt 😂
I need a burger 🍔😂
Man that is a great pile of gold! India does hold a lot of the worlds gold?
Indians, Chinese and Arabs all hold gold. They personally value it more than western society
Thanks for reminding me about this I learnt about it when I lived there but had forgotten about it till your post
I wish someone would buy me some gold today as a gift! 😁 Thx for checking out my post u big world traveler 👍😎
I wish the same, but no longer a world traveler my travellingdays are over
In India the traditional goldsmith's take into account the impurities in the jewellery. Combined with the fact that there is very large market occupied by small timers making the person to person dealings much more effective. All this has given Indian people a little bit of a buffer where they can even use traditional jewellery as a store of wealth.
All this also makes the buyers susceptible to fraud. So a little care and precaution can go a long way.
100% No matter where you are in the world u have to buy from reputable sellers and I'd avoid jewelry with lower karat weight and go for more pure gold items
Amen to that.
No wonder we are spiking today😀
Did not know this! I have noted my Indian friends' love for gold though. Them homies love their bling fo sure!
My home country Nepal still follows Bikram Sambat calendar instead of the western calendar. You are right, Hindu new year was Baishakh 1 couple of days ago and all my friends and family celebrated new year. I don't know how much gold they stacked but it definitely is a joyous moment for Nepalese. Now the British have left India and Indian Hindus are free to celebrate their own new year.