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Dhanteras 2024: Auspicious Time to Buy Gold on Dhanteras

By Tata Capital
11 October 2024
7 mins read
3033

Have you taken notice of that one specific day when all the jewellery stores are jam-packed with customers? Dhanteras is one such day that marks the beginning of the grand Diwali festivities.

Dhanteras is a day when people worship the goddess of wealth, Goddess Lakshmi, and seek her blessings for prosperity and financial well-being. It is believed that purchasing gold and other precious metals on this auspicious day will bring prosperity and ward off evils.

However, these purchases are often time-honoured, with certain timings considered to bring in more prosperity. So, when exactly is the right time to make that golden purchase? Join us as we unravel the most auspicious times of Dhanteras 2024.

Why is Dhanteras auspicious?

Dhanteras, also known as Dhanatrayodashi, derives its name from “Dhan,” meaning wealth, and “Teras,” signifying the 13th day of the lunar fortnight. It is celebrated on the 13th day of the dark fortnight (Krishna Paksha) in the Hindu month of Kartik. Several popular legends are associated with this day in Hindu mythology.

According to legends, during Samudra Manthan, when Gods and Demons churned the Kshira Saagar in search of Amrit, Lord Dhanvantari emerged with a jar of the elixir of life on this day.

Another legend explores the story of King Hima’s son. It is believed that the young prince was foretold to die on the fourth day of his marriage by a snake bite. However, his clever wife laid out all her ornaments and gold coins in a heap and began singing and narrating stories to keep him awake. When the god of death finally arrived, he was captivated by the glittering gold and the melodious stories, ending up forgetting his mission.

Both these stories are tied to health, wealth, and prosperity. As a result, over the years, the heaven-sent day of Dhanteras has been highlighted as one filled with good luck and fortune.

Why should you buy gold on Dhanteras?

The tradition of buying gold on Dhanteras is deeply rooted in the belief that it brings home prosperity and good fortune. When you purchase gold on Dhanteras, it is believed to invite the blessings of Goddess Lakshmi into your home.

Besides the religious angle, buying gold on Dhanteras is considered an excellent investment. Gold is a reliable and stable asset. Unlike other investment forms, it is safe from volatility and negative returns. So, be it jewellery, coins, or bars, gold can safeguard against economic uncertainties and inflation.

Dhanteras Timings for Buying Gold

One of the most crucial aspects of Dhanteras is the selection of auspicious timings, or Dhanteras Mahurat, to make your gold purchases. The right moment can enhance the positive effects of your investment and bring prosperity to your life.

In 2024, Dhantrayodashi Muhurta will last from 29th October 10:31 AM to 30th October 1:15 PM. During this period, you will find the following two auspicious timeframes to make a gold purchase:

Pradosh Kaal: The best time for buying gold on Dhanteras 2024 is during the Pradosh Kaal. It is said that if you worship Goddess Laxmi during this period, she will stay in your home. In 2024, Pradosh Kaal is expected to occur between 5:54 PM and 8:22 PM.

Vrishabha Kaal: Another auspicious time for buying gold is the Vrishabha Kaal. This lagna usually overlaps with the Pradosh Kaal and is considered extremely favourable for investments. In 2024, Vrishabha Kaal will occur from 6:55 PM to 8:57 PM.

Financial benefits of buying gold

While the tradition of buying gold on Dhanteras is rooted in cultural and religious significance, it’s worth highlighting the financial advantages associated with this practice:

Store of Value: Gold is often called a “store of value” because it has a long history of retaining its worth. Unlike paper currencies, which can depreciate due to inflation, gold tends to hold its value or even appreciate over time.

Asset Diversification: Investing in gold can help diversify your investment portfolio. Unlike other financial instruments, Gold is known to have less volatility. It also has a low correlation with other assets, making it a good hedge against economic uncertainties.

Capital Appreciation: Gold is a precious metal whose worth has been time-tested for centuries. If you invest in gold, you will enjoy capital appreciation in the long run.

Global Acceptance: Unlike stock options and mutual funds, gold is not restricted to a specific geography. Hence, holding them as investments can be easily traded or sold anywhere on Earth.

Dhanteras shopping tips

Ready for your Dhanteras Mahurat shopping spree? Before you head out to buy something, take note of these Dhanteras shopping tips:

Ensure that you buy gold from established and trusted jewellers. This will guarantee the authenticity and purity of the gold you have purchased
Look for BIS (Bureau of Indian Standards) hallmarked gold jewellery. This certification verifies the purity of the gold and the product’s authenticity.
Gold prices fluctuate daily. So, make sure that you are aware of the cost beforehand. You can check for your local gold rate online on various financial websites.
Jewellery often comes with an extra making charge. These charges can vary significantly between different retailers. Hence, we advise comparing these charges among various stores for the best deal.
After your purchase, store your gold items in a secure and safe place, such as a bank locker, to protect your investment. Furthermore, always retain the purchase invoices and certificates as proof of ownership and purity.
If you are worried about storing your gold purchases and their security, you can opt for a different form of gold. Various financial platforms and institutions offer digital gold as a form of investment. Alternatively, you can invest in Sovereign Gold Bonds provided by the Indian Government.

To sum up

Dhanteras holds a special place in the hearts of millions. While its cultural and religious significance is paramount, the modern world sees the festival as a time of financial opportunity. Buying gold on the auspicious Dhanteras mahurat will align with traditions and strengthen your financial portfolio.

The festival of Diwali is filled with sales and numerous offers to make value purchases for the year. If buying Gold has taken a toll on your savings, we have got you covered. With Tata Capital’s easy approval of personal loans, you can finance your festivities quickly. Apply for a personal loan today!

FAQs about Buying Gold on Dhanteras

1. What are the recommended items to purchase on Dhanteras?

Silver, gold, copper utensils, brass, steel, and electronic gadgets like laptops and phones are among the items to buy on Dhanteras. Purchasing idols of Goddess Lakshmi and Lord Ganesha is also believed to be auspicious.

2. What do you buy on Dhanteras for gold?

If you want to buy gold on Dhanteras, bangles, necklaces, coins, and decorative items are good options. The metal is believed to bring prosperity and good luck to the buyer.

3. Which gold coin to buy on Dhanteras?

When buying gold, it is best to go for 24 or 22-karat coins. Gold, hallmarked by the Bureau of Indian Standards (BIS), is widely accepted. Look for the BIS logo on the coin.

4. Is it okay to gift gold on Dhanteras?

Yes, it is good to gift gold on Dhanteras. It is believed to be auspicious, bringing prosperity and good fortune to the recipient.

5. What is the timing of Shubh Muhurat for Dhanteras?

This year, Shubh Muhurat will occur on October 29th, 2024. The timings extend from 05:38 pm to 08:13 pm. Trayodashi Tithi extends from 10:31 am on October 29th until 1:15 pm on October 30th, 2024.

6. Can you perform Dhanteras Puja at any time during the day?

Dhanteras Puja should be typically performed during Pradosh Kaal, which starts after dusk and lasts approximately 2 hours. This year, it will occur on October 29th, 2024, from 5:54 pm to 8:22 pm.