You can avail of the great discounts and cashbacks on gold jewellery making and diamond value that is offered by jewellers. (File photo)
Akshaya Tritiya is one of the most auspicious occasions for Hindus and is synonymous with buying gold. Akshaya Tritiya, also known as Akti or Akha Teej, falls on the third lunar day of Shukla Paksha of Vaisakha month. It is an annual spring festival, celebrated mainly by Hindus and Jains across the country. The festival varies according to the Hindu Lunisolar calendar and this time it is falling on May 7.
Akshaya means 'Eternal' or something that never diminishes and it is believed that buying gold on this day is an auspicious sign any initiative taken on this day such as a business or the construction of a building, investment or anything bought on that day, will be followed by prosperity. Buying gold is considered as the harbinger of wealth to the family. It is a belief that any venture started on this day will prosper. You can avail of the great discounts and cashbacks on gold jewellery making and diamond value that is offered by jewellers.
The day marks the birthday of Lord Parshuram, who is the sixth incarnation of Lord Vishnu. It is also believed that on this day Lord Ganesha began to write Mahabharata. In Sanskrit, the word "Akshaya" means "never diminishing" i. e. believed to bring good luck and success. As per the legends, you will be blessed if you do charity on this day.
What is the shubh muharat for buying gold?
May 7: From 6.26 am to 11.47 am
What to keep in mind while buying gold:
If you are planning to buy gold on Akshay Tritiya then apart from holding it in physical form, you can bet on gold in the paper form as well. One way to do it is through mutual funds. The gold mutual funds are mainly in two forms gold ETFs and gold saving funds. However, make sure to know that both gold ETFs and gold saving funds have cost implications as the former comes with expense ratio, demat charges and brokerage to be payable on transactions whereas the latter comes with elevated expense ratios.
Also, try to avoid buying gold ornaments that have precious stones studded on them. It might make your jewellery look good, but will drop its worth incredibly. Instead of buying gold biscuits, opt for gold coins as they are considered a better investment option.
Here is a prayer for Akshaya Tritiya:
"Hreem Shreem Lakshmi Narayanaya Namah"