Buy Gold on Dhanteras

Buy Gold on Dhanteras

In India people are queuing up to buy gold on Dhanteras in jewelery shops all over the country.

On the festival of Dhanteras it is considered auspicious to buy gold and silver and many jewelery shops and dealers are offering big discounts to attract customers.  It is indeed a buyers market.

The manager of Tanishq, Juti Kalita, said, "For the first time in years, gold prices has shot through the roof on Dhanteras. But surprisingly, this has not affected sales. Many customers are also making advance bookings. Gold bangles, rings, earrings, sets are flying off the racks. There is a great demand for gold and silver coins."

And Preeti Agarwal, the manager of Manik Chand and Sons stated, "We are providing up to 30% discount on the making charge and for every purchase of 1 lakh, one gets a gold coin for free. We are also offering discounts of up to 10% on diamond jewellery."

The gold price is the highest in five years and this seems to spur Buyers on who are willing to splurge in this festive season and buy gold on Dhanteras.

According to Rajiv Nath, manager of MP Jewellers, "Apart from gold and silver coins, buyers are increasingly going for lightweight jewellery. This year's sales have surpassed the sales of last year."

Taru Deka, a resident of Silpukhuri was seen browsing through the shelves of a jewellery shop to make a pick. She said, "Although the prices are sky-high, I have come to buy some bangles because it considered auspicious."  And Rani Dutta of Beltola echoed similar sentiments. "I bought some gold coins because investing in gold is a good thing, especially for the future," she said.

"Dhanteras also known as Dhantrayodashi is celebrated on the 13th day of Krishna paksa in the month of Ashwin. On this day, people should buy gold coins to usher in prosperity and wealth. The gold coins should be kept on the right hand side of Kuber in a pot. Kuber is placed on the left side of Laxmi." Said Astrologer Pannalal explaining the importance of Dhanteras

Of course, to buy gold on Dhanteras is not the only time to accumulate gold. With the gold price still low anytime is the time to buy gold.