It’s that time of the year, where everyone — from your neighbour to the RJ of the local radio station — is talking about investing in gold! While buying gold funds, jewellery and coins on Akshaya Tritiya is considered the best way to invest your wealth on this auspicious day, nowadays, many people are moving away from this conventional custom. Instead, they are investing in vacations, electronic gadgets, real estate and more.
Gadgets and vacations are the new options
Moving away from tradition, many including celebrities, are now looking at other innovative ways to secure their wealth. Purab Kohli, who is whisking his family away to Italy for a vacation on this auspicious day, believes that a holiday can rejuvenate and prove to be more prosperous to one’s health in the long run. Others like TV actress Aishwarya Sakhuja believe that gadgets are a great festive purchase as manufacturers offer hefty discounts on this day to lure prospective buyers. “I intend to buy the latest laptop, as I travel a lot and there are very good offers on this day. I will also invest in mutual funds as it’s a profit-making proposition,” she says.
Arjan Bajwa, who plans to invest in real estate, will also indulge in his favourite fashion accessory this year. He says, “I like to invest in watches as they are like gold! I will treat myself to another great watch this year.”
The reason behind the gold rush
Interestingly, most of us consider shopping for gold and other expensive jewellery an age-old custom and tradition that is an integral part of this occasion. But this isn’t the case. Till about 15 years ago, the celebration was observed more through yajanam (the act of offering gifts to God), yaajanam (allowing others to make a new beginning) and danam (charity). It later became about pratigraham (acquisition of new property and assets including gold and silver). It’s only because of the boost of the Indian economy in the past few decades that many people had started investing in gold. The practice of buying this yellow metal originated in the North and then spread to other parts of the country. Looks like the new generation, will now set a new precedent.
Credits Times of India