Winter in India is almost synonymous with the celebrations of Diwali. as the wintery winds sweep the city, preparations for Diwali dominate most households – making sweets, cleaning and most significantly, shopping. The festivities literally commence with the hectic shopping that grips the city markets; new clothes, crackers, gifts, gadgets, sweets to distribute and the symbolic purchase of gold or silver.
Celebrating the festival, retailers and shopping malls offer attractive discounts to lure customers. Clothes, gadgets, electronics, household goods, gift articles and such are available at highly discounted rates in many stores. But the most prized item on the shopping list, is an investment in gold or silver. The significance of investing in new gold or silver, which in turn symbolises wealth, stems from the story of the Samudramanthan or churning of the ocean. According to the story, it was on the thirteenth day of the Krishna Paksha, the dark fortnight of the month of Ashvin, that the Goddess of wealth, Lakshmi emerged amongst the many other divinities and celestial objects that came out as the ocean was churned.
Accordingly, people make token purchases of gold and silver in the belief that it will bring good fortune and invite the benevolence of Goddess Lakshmi in the forthcoming year. 'Dhan' refers to wealth while 'trayodashi' means thirteenth day. Therefore, Dhanteras is literally translated as 'wealth on the thirteenth day'.On this day, prayers are offered to the goddess Lakshmi, asking her for her blessings and to provide prosperity in all business endeavours for the coming year. The purchase of new 'dhan', especially in the form of a precious metal is said to bring good luck to the home.
Dhanteras, is thus considered to be the first day of the three-day festivities associated with Diwali. Gold is a symbol of purity, prosperity and opulence, and for Indians, gold is not a luxury, it is almost a necessity, an obsession. In actuality in an Indian household, gold is more than just jewellery.
It is an investment against inflation; a security that can be pledged in hard times; an asset given to the daughter when she gets married to ensure her financial security in times of distress. The fact that getting a loan against gold is much easier than against properties or anything else just adds to the lure of the shiny metal.
We invest in the precious metal when prices go down, because it will definitely shoot up, and we buy again when the prices increase because, who knows, the prices may go up even further. We Indians love gold.
We always have. All we need is a reason to buy more. And Dhanteras is just that. The sentiment to buy on Dhanteras is so strong that in order to avoid the rush and to ensure a classy one-of-a-kind design, some customers prefer to select and book jewellery pieces on an earlier date, to be picked up later on Dhanteras. Rejoicing the spirit of gold, and making this traditional investment not only auspicious but also advantageous, jewellery stores all over the city, namely, Tanishq, Vaibhav, CMR and MVR have come forth with enticing offers.
Specialising in classy designer collections and fancy models with precious stones, these showrooms have a multitude of designs and models to pick from. And in tune with customer’s preferences, keeping up with the festive sentiment yet keeping an eye on the budget, there are also many lightweight necklaces and bangles. Gold is a precious commodity and taking advantage of the festive offers might not only be tempting, but prudent as well!
- Uma Chodavarapu
