HINDUS CELEBRATE AKSHAYA TRITIYA, A HOLIDAY OF GOOD FORTUNE, WHERE CELEBRANTS OFTEN BUY GOLD, START BUSINESSES, AND GET MARRIED.
Hindus around the world celebrate the auspicious holiday of Akshaya Tritiya. The holiday, also known as “Akha Teej“, for Hindus, commemorates many events including the start of Treta Yuga, the birth of Lord Parasurama (the sixth incarnation of Lord Vishnu), Lord Ganesha and Ved Vyas writing of the Mahabarata, and the day Panadavas discovered weapons used to defeat the Kauravas. For Jains, Akshaya Tritiya is largely a celebration of the day Rushabha Dev had his fast ended after Shreyans Kumar poured sugar cane juice into his hands.
AKSHAYA TRITYA: AUSPICIOUS DAY
The holiday is a day of good fortune for those who celebrate it. Because “Akshaya” means eternal or imperishable, the holiday is considered a “mahurat” or an especially auspicious day. Many believe that cars bought on this day will be safe from accidents, marriages will last be longer and filled with more love, and businesses will be more successful when started on this day. Moreover, as a part of these superstitions, many invest in gold. Traditionally, Akshaya Tritiya is one of the biggest days for buying gold, and a significant reason why India is one of the world’s leading gold-buying nations.
IS TODAY’S GOLD WORTH THE GOOD FORTUNE?
However, this year, gold sales may suffer a little compared to previous years’ celebrations of Akshaya Tritiya. Although gold imports skyrocketed to 125 tonnes in March, sellers of the precious metal have noticed significantly slower sales than originally predicted. “I have sold just five gold coins so far but I expect sales to improve by the evening. Footfall was much higher last year compared to this year,” said Vrishank Jain, a salesman at the Zaveri Bazaar. While most of the gold demand traditionally comes from India’s rural areas, unseasonable rain and low commodity prices have contributed to a significant economic setback.