Gold is rallying, will it touch Rs 1 lakh in near future? Keep these in mind while buying gold

Gold prices are surging with every passing day. People around India prefer to buy gold on Akshaya Tritiya Day, an auspicious day as per the Hindu faith. There is a significant difference in the price of gold when compared with the last Akshaya Tritiya as the price of one sovereign gold has crossed Rs 50,000 this time. The prices could likely touch Rs 1 lakh around Akshaya Tritiya next year.

The main reason for this is the increasing demand for gold. On the day of Akshaya Tritiya, many jewelers offer huge offers and discounts. So there is a huge rush in every jewellery store.

Significance of Akshaya Tritiya

Akshaya Tritiya is a festival celebrated by Hindus all over the world. This day is also known as Akha Teej, a day to worship the goddess of wealth. Akshaya Tritiya Day is celebrated on the third day of Shukla Paksha in the month of Vaisakha. Akshaya means never ending Tritiya means the third. Hence, many individuals buy gold on this day to attain endless wealth and prosperity.

Akshaya Tritiya 2024

According to Drikpanchang, Akshaya Tritiya falls on the third lunar day. According to the English calendar, Akshaya Tritiya this year is on Friday, May 10. The ideal time for good deeds is between 5.33 am to 12.18 pm. The best time to buy gold is from 5.33 am on May 10 to 2.50 am on May 11.

Origin and Significance

According to Hindu mythology, the Treta Yuga began on the day of Akshaya Tritiya. Also, the day is also the birthday of Lord Vishnu's sixth avatar, Parashurama. Moreover, it is considered one of the most auspicious days for activities like buying gold, marriage, engagement, work and new business ventures.

Pujas and celebrations

Akshaya Tritiya is celebrated with great enthusiasm all over India. People decorate their houses, make traditional sweets and buy gold and silver.

Many people visit temples, perform pooja and seek the blessings of deities. Charitable activities such as feeding the poor and donating to good causes are also an integral part of these celebrations.

On the day of Akshaya Tritiya, one should get up early and take a bath. Wear clean clothes. Lord Vishnu and Goddess Lakshmi should be worshipped along with Kubera, the god of wealth and prosperity.