Why buy gold on Akshaya Tritiya ?
While people term it as a marketing gimmick by jewelers who woo the customers to invest in gold/jewellery on this day, there are few mythological stories that surround the link between gold and Akshaya Tritiya.
It is believed that in the famous epic, Mahabharata, Surya (the Sun God), on this day, presented Yudhistra a vessel which could produce an inexhaustible supply of food. Therefore, Akshaya Patra means the ‘inexhaustible vessel’. It signifies that gold/jewelry bought on this day will never see a diminish in its good fortune.
The story of Lord Krishna and Sudhama is also a reason why this day is linked to material gains and riches. Poor Sudhama went to Lord Krishna’s palace to meet him for a financial favor. He presented a bag of parched rice as a humble gift to Lord Krishna. Lord Krishna relished the gift of love which overwhelmed Sudhama. He was treated like a king with warmth and hospitality. Dumbfounded by this love of Krishna, Sudhama decided to return home without asking for the favor. However, when he returned home he saw that his place had transformed to riches. This demonstrates the pure joy of giving something out of love and receiving abundance. This is one of the reasons why this day is connected with material gains and prosperity.
Akshaya Tritiya is also the day, when the gods appointed Lord Kubera, as the Banker of the Heaven. Therefore, it is auspicious to offer pooja to Goddess Lakshmi and Lord Kuber on this day.
How to buy gold during this Akshaya Tritiya?
Jewelers and Bankers have come up with various lucrative options for people to buy gold on this day. As a consumer, you have the option to choose from physical and non-physical gold investment products. Following are few attractive gold options currently available in the Indian market.
Which is the best option?
This depends on how you want to use gold. If you are investing to make jewellery for your child(ren), and are too attached to the status of having physical gold, then, jewellery, coins and bars are good options. Do also remember, when you purchase physical gold, there is a risk of impurities, fear of theft, need of insurance and most physical gold transactions happen in cash.
If you are buying as just another investment, then Gold ETF is a valuable option.