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Business News/ Money / Personal Finance/ Akshaya Tritiya 2024: 5 things to buy on this auspicious day

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Akshaya Tritiya 2024: 5 things to buy on this auspicious day

2 min read 08 May 2024, 08:08 AM IST

Sangeeta Ojha

Akshaya Tritiya is an auspicious day for new beginnings, investments, and weddings, believed to bring prosperity. Traditionally, people buy gold, perform religious ceremonies, and make charitable donations

Traditionally, people buy gold, conduct religious ceremonies, and make charitable donations on Akshaya Tritiya.

Akshaya Tritiya is considered an auspicious day for new beginnings, investments, and weddings. The word "Akshaya" means "eternal" or "never diminishing" in Sanskrit, and it is believed that any venture initiated on this day will bring prosperity and good fortune. Traditionally, people buy gold, conduct religious ceremonies, and make charitable donations on Akshaya Tritiya. Traditionally, people buy gold, conduct religious ceremonies, and make charitable donations on Akshaya Tritiya. So, let's take a look at things to buy this Akha Teej ( Akshaya Tritiya 2024)

1)Gold

Physical gold is the most popular way of owning gold, either in jewellery or gold coins.

“Gold buying on this day is considered very auspicious by Hindus, especially though it brings wealth and happiness," said Ashish Aggarwal, Director, Acube Ventures

2)Digital gold

Ashish Aggarwal points out that storing your investment in secure vaults reduces physical storage and transportation issues and protects it from theft and other risks.

3)Sovereign gold bonds

Sovereign Gold Bonds (SGBs) are the perfect alternative to investment in physical gold. With these bonds, you can enjoy capital appreciation and earn interest yearly. These bonds, issued by the Government of India, also eliminate several risks associated with physical gold.

4)Gold ETFs

Gold Exchange Traded Funds (ETFs) invest in gold of 99.50% purity. Gold ETFs are linked to the price of gold. Each unit of a gold ETF is pegged to a specific value of gold.

Additionally, Ashish highlights that gold ETFs and gold sovereign bonds provide access to the asset class without needing physical holding. This ensures scalability and liquidity, making them highly liquid and easily tradable investments. These digital alternatives cater to the growing demands of today's investors to be innovative, offering a perfect blend of traditional and modern investment options.

5)Buying a house

Akshaya Tritiya has been dedicated to the time when fresh starts are made, and a new, better phase of life begins, and for this very reason, the occasion is considered auspicious to invest in real estate.

Gunjan Goel, Director at Goel Ganga Developments, emphasizes that for many Indians, saving to buy a house is not merely an investment; it also symbolizes stability and security.

Given that real estate investments expose investors to significant risks, it is essential to approach them with caution and thorough research.

Raghunandan Saraf, Founder & CEO of Saraf Furniture, suggests that this time of renewal is perfect for updating your home with new and trending furniture that enhances its ambience. Whether you're planning a complete redesign or just adding a few pieces, this auspicious period offers the chance to enjoy high-quality furniture that reflects your personal style.