Why Should People Buy Gold Or Silver On Dhanteras?

Diwali is a five-day-long festival and starts with Dhanteras. The word Dhanteras translates to mean wealth and prosperity. It falls during the month of Ashwin and is celebrated on the 13th day, according to the Hindu lunar calendar. All Indians will celebrate Dhanteras—the festival of wealth — on October 25 this year. The occasion marks the start of the Indian festival of Diwali and is considered an auspicious time to invest in gold, silver jewelry and other precious metals.

Image Source- Google

The demands for gold and silver increase during Dhanteras and Diwali as people buy either gold/silver jewellery or coins on this day. Dhanteras really means - Dhan = wealth, and Teras = 13th day. This day is considered auspicious for buying gold, silver, and utensils. This day holds high importance among all businessmen who invest in gold without fail on this occasion. Dhanteras has always been an important day to buy gold and silver in India. Jewellers see a rise in demand for gold jewellery every year as Indians flock to buy gold in the form of either jewellery or gold coins on this auspicious occasion. Some gold shops will be open early in the morning and remain open till midnight to manage the crowd.

On Dhanteras everyone welcomes Goddess Lakshmi into their homes. Ahead of Lakshmi Pujan, females of the household draw rangoli. Devotional aartis and songs are sung and various types of tempting foods are prepared. Lord Kuber is also worshipped with Lord Ganesh and Goddess Lakshmi on the day of Dhanteras who is regarded as the financier of wealth.

Image Source- Google

There is an interesting devotional story on why buying gold is considered auspicious on Dhanteras. As per the story, the newlywed wife of the 16-year old King Hima drove away from the God of Death, Yamaraj, by blinding him with heaps of gold and silver. The king’s wife saved his life by blocking the sleeping chamber with a heap of wealth. Much like King Hima’s wife displayed an array of gold with lamps to ‘blind’ Yama, it is believed that a symbolic buying of gold and silver coins, jewellery and utensils will act as auspicious against ill and bringing good luck to every member of the family.

On every Dhanteras, people not only invest in gold, but also in silver metal, along with other forms of wealth, such as property, vehicles, or any other asset. So it is not merely a precious metal or an investment opportunity, but it also holds great sentimental value for people.

Image Source- Google

Purchasing gold during this time is believed to be auspicious and a sign of continued prosperity in the year to come. The highest demand for gold and silver is either in the form of jewellery or coins that are embossed with images of Laxmi Ji and Ganesh Ji; the latter being particularly popular for gifting purposes.

The beauty of investing in gold is that there are products to suit every budget. From simple bracelets, rings, earrings and ear tops at the lower end of the price range to heavy and intricately-made pendant set and necklaces at the higher end.