• 18 Oct , 2022
• Blog

Significance of Buying Gold on Dhanteras

Okay, Let us start with the basics - what is Dhanteras? Dhan means wealth and Teras is the 13th Lunar Day of the Krishna Paksha of Ashwin month in the Hindu calendar.

Lunar day (Tithi in Sanskrit) is a slight moment of moon 12 degrees until it’s fully visible aka Purnima “the full moon night”.

So, it’s just a way of saying the 13th date in a month and according to some beliefs, this was the day when Goddess Lakshmi emerged from the ocean during Samudra Manthan. People believe that buying gold and other precious metals on this day will bring Goddess Lakshmi into their lives.

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Why is it a good time to buy gold on Dhanteras?

If you’re reading till here that means you’re one of those guys who wants to dig deep into why buy Gold on Dhanteras.

Firstly, we consider gold as a highly auspicious metal and associate it with the goddess Lakshmi. So, buying gold on Dhanteras is seen as a way of inviting Lakshmi into one's home and bringing good fortune. 

Secondly, gold is a symbol of wealth and prosperity for us, so buying gold during Dhanteras is seen as a way of attracting these things into our lives. However, these are not the only reasons why people buy gold during Dhanteras. Let's dive deep into the tradition of buying gold & silver coins on the first day of Diwali. 

It is believed that Lakshmi brings good luck and prosperity to those who worship her. Therefore, lighting lamps and candles on Dhanteras is seen as a way of inviting her blessings into one's life.

Benefits of buying gold on Dhanteras?

Well, let us first start by highlighting a personal finance tip here. "Savings"
You must be aware of our parents' emphasis on saving.

Saving money for the future is important because of rising inflation and rising spending. However, having only cash in your savings account is insufficient. It will only make your money less valuable.

You must be aware that as inflation rises, the value of the currency falls. At that point, gold comes to the rescue, preserving the value of your money (Because its value increases over time as opposed to currency).

This is why Indians tend to buy gold on every other occasion and even pass it down as a family legacy as a gift to each generation.

Dhanteras is auspicious for buying gold, but it also marks the start of the festival by purchasing precious metals for Dhanteras to welcome prosperity and wealth in life.

Perhaps our forefathers understood the significance of saving and, as a result, linked it with religious belief to maintain the tradition of purchasing gold and silver coins for Dhanteras and worshipping them through Dhan puja as a ritual so that people purchase them every year and preserve the value of their money.

In fact, in some households, there is a tradition to purchase gold at festivals such as Akshay Tritiya, Pushya Nakshatras, and so on because they believe it to be the auspicious time to buy gold.

And this not just the belief, Gold has outshined as if God is protecting us from disasters, don’t believe us? Look at the graph of every economic crash vs the price of gold!

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And here’s another clear comparison between Global Market v/s Gold 

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But ..but.. but.. we get the hassle of going out there, finding the trusted jeweller and then purchasing gold coins for Dhanteras.

So, here's the solution. This Dhanteras, you can buy DigiGold with just a few taps on your phone!

But wait, there's more to it. Continue reading to find out.

Best time to buy gold on Dhanteras?

Okay, so you’re clear with the significance right but what is the exact time aka the muhurat to buy gold on Dhanteras 2024? Well, it depends on the city but Don’t worry, we’ve got you covered!

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But what if you want to invest every month and don’t want to wait until Dhanteras then you’ve yourself Pushya Nakshatra every month & it’s mahurat timings are as follows.

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Apart from these mahurats, you may also buy gold during any festivals like Diwali, Navratri, Gudi Padwa, Dussehra &, etc to celebrate it with a gift for your future self.

Why should you buy Digital Gold this Dhanteras?

You are now well aware of why purchasing gold is considered auspicious. Here are a few advantages of purchasing gold in digital form during Diwali. 

It is a smart way of saving your money 

Every auspicious day, you can buy and sell digital gold from the comfort of your own home. You can also begin a gold SIP to save money on gold regularly. Let's call it a festive savings plan.

Gold coin for Dhanters should be as fine as the blessings

You obviously expect the highest quality when you purchase precious metal coins on Dhanteras. Digital gold is guaranteed to be 99.9% pure and comes with a quality assurance certificate. When you choose doorstep delivery, you can also get physical gold.

Gifting gold on Dhanteras to your loved ones!

Gifting digital gold coins on Dhanteras is also seamless as you can give this Dhanteras gift item directly to your relatives from anywhere even if they don't use DigiGold App. As a result of digitalisation, it is fair to say that it is a more advanced form of Dhanteras gifting.

Conclusion

Every custom and tradition in India means something and so does buying gold at the beginning of the five-day Diwali festival. Gold's value has always increased, making it a profitable investment tool. And Dhanteras is a good time to invest in gold and celebrate the start of the new year by welcoming prosperity.