Media has hyped all the small and insignificant festival like Akshya Tritiya, that we never celebrated in our childhood. Today, like Mother's day and Father's day, Akshya Tritiya has gained a lot of public attention. Even the daily soaps in TV are advertising Akshya Tritiya as though this in an Indian National holiday where newly purchased gold is required to be used in Hindu ritual ceremony.
No doubt, Akshya Tritiya has got religious significance. This is the day, when according to Hindu mythology every moment is considered auspicious and hence, any venture that is started on this day will be fruitful. This day does not require any Muhurat calculation before starting anything new. This day the Sun and moon are at their brightest and this happens only once in a year. This is the birthday of Lord Parshurama one of the Avtar's of Lord Vishnu. And also this is the day when Lord Sri Krishna's childhood friend Sudama visited Mathura, and without him uttering anything for his poverty, Lord Sri Krishna understood his problem and blessed him and his family wealth and prosperity. That is the day depicts- Akshya means eternal blessings, one which will never perish.
In our childhood days, this day was considered the best to conduct marriage, thread ceremony etc. However, in this new age of Media and consumerism, the goldsmith and jewelers have hit an excellent marketing trick and have hyped this as the day, when gold purchase is a most. Just like various other days which are gimmick of greeting card companies, Akshya Tritiya has become marketing gimmick of gold shops across India.
This is an auspicious day, and is important to make a new beginning, that is why you should not purchase gold this day. In this age when lot of financial assets are readily available like stocks, MF's, bonds, FD's and PPF's etc why you need to stick to gold.
We Indian's are quite sentimental towards this yellow metal and consider this as the best asset. The price of yellow metal does not allow to wear these ornaments as this adds to unnecessary attraction in public. So, you end up purchasing the ornaments and keeping it in safe either in bank locker or in home locker.
Yes, it is true that in last decade gold has had a good price run up. But, is it really worth. We think investing in Gold our asset value is growing, but compared to other asset classes, gold has not had any good returns. This certainly beats the inflation in US but not in India where inflation is so steep.
Instead, we should consider other asset classes and divert our hard earned money that could give a much better result in long term. If the money invested in fundamentally sound stocks, surely the return would be much better.
Do not fall for the gimmick and if you must purchase then identify some fundamentally strong stocks that could give you much better margin over yellow metal. Stocks also give you regular dividend yield and bonus. However, the yellow metal neither grows nor gives any interim return. It is true if you sell gold you can get good value, but too much gold attracts wealth tax . In general we all have soft corner for our family gold and would never think of selling them until we reach a state where nothing else works. Before, investing in gold, think if you could definitely sell them if you are considering this as asset.
No doubt, Akshya Tritiya has got religious significance. This is the day, when according to Hindu mythology every moment is considered auspicious and hence, any venture that is started on this day will be fruitful. This day does not require any Muhurat calculation before starting anything new. This day the Sun and moon are at their brightest and this happens only once in a year. This is the birthday of Lord Parshurama one of the Avtar's of Lord Vishnu. And also this is the day when Lord Sri Krishna's childhood friend Sudama visited Mathura, and without him uttering anything for his poverty, Lord Sri Krishna understood his problem and blessed him and his family wealth and prosperity. That is the day depicts- Akshya means eternal blessings, one which will never perish.
In our childhood days, this day was considered the best to conduct marriage, thread ceremony etc. However, in this new age of Media and consumerism, the goldsmith and jewelers have hit an excellent marketing trick and have hyped this as the day, when gold purchase is a most. Just like various other days which are gimmick of greeting card companies, Akshya Tritiya has become marketing gimmick of gold shops across India.
This is an auspicious day, and is important to make a new beginning, that is why you should not purchase gold this day. In this age when lot of financial assets are readily available like stocks, MF's, bonds, FD's and PPF's etc why you need to stick to gold.
We Indian's are quite sentimental towards this yellow metal and consider this as the best asset. The price of yellow metal does not allow to wear these ornaments as this adds to unnecessary attraction in public. So, you end up purchasing the ornaments and keeping it in safe either in bank locker or in home locker.
Yes, it is true that in last decade gold has had a good price run up. But, is it really worth. We think investing in Gold our asset value is growing, but compared to other asset classes, gold has not had any good returns. This certainly beats the inflation in US but not in India where inflation is so steep.
Instead, we should consider other asset classes and divert our hard earned money that could give a much better result in long term. If the money invested in fundamentally sound stocks, surely the return would be much better.
Do not fall for the gimmick and if you must purchase then identify some fundamentally strong stocks that could give you much better margin over yellow metal. Stocks also give you regular dividend yield and bonus. However, the yellow metal neither grows nor gives any interim return. It is true if you sell gold you can get good value, but too much gold attracts wealth tax . In general we all have soft corner for our family gold and would never think of selling them until we reach a state where nothing else works. Before, investing in gold, think if you could definitely sell them if you are considering this as asset.
No comments:
Post a Comment