Why people buy gold on Akshaya Tritiya

New Delhi: Gold and silver sales shoot up every year on Akshaya Tritiya, that usually falls in late April or early May. Many Hindus believe that this day is auspicious to buy gold and silver.

The reasons for this day being auspicious are many: Parashuram, the sixth incarnation of Vishnu was born on this day; Veda Vyas and Ganesha began began writing the Mahabharata; on this day the Treta Yuga began; and on Akshaya Tritiya the river Ganga is said to have descended from heaven to earth.

But most of them do not seem to have an obvious gold/silver buying connection. One explanation is that since the word Akshaya means ever abundant and never diminishing, and wealth acquired on this day will only grow and therefore the desire to acquire the precious metals, as they symbolize wealth.

On this day Kubera, the lord of wealth, was appointed as the banker to the gods and therefore wealth in the form of gold and silver is worshipped.

The most logical reason behind this gold buying spree seems to be that the month of Shraavan, that begins in late July and ends in the third week of August, is one of the most favoured months for Hindu marriages and parents preferred to buy ornaments for the marriage season in advance. Since Akshaya Tritiya is considered auspicious, most of the purchases were made on that day and the tradition continues, albeit in a somewhat different form.