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Last Updated : Oct 25, 2019 10:25 AM IST | Source: Moneycontrol.com

Dhanteras 2019: Here's why people buy gold and other valuables on the auspicious day

The festival of Dhanteras will be celebrated on October 25. Gold prices saw an uptick on the back of festive demand.

This year, the festival of Dhanteras, which marks the beginning of the five-day long festival of Diwali, will be celebrated on October 25. (Image: Reuters)
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Dhanteras, which marks the beginning of the five-day festival of Diwali, will be celebrated on October 25 this year. (Image: Reuters)

The festival is celebrated on the 13th lunar day of the dark fortnight of the Hindu month of Kartik and the word 'dhan' means wealth, hence the name 'Dhanteras'. (Image: Reuters)
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The festival is celebrated on the 13th lunar day of the dark fortnight of the Hindu month of Kartik and the word 'dhan' means wealth, hence the name 'Dhanteras'. (Image: Reuters)

People worship Lakshmi, the Hindu goddess of wealth on this day. (Image: Reuters)
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People worship Lakshmi, the Hindu goddess of wealth on this day. (Image: Reuters)

It is considered an auspicious occasion to buy gold and valuables like ornaments, gemstones or other metals like copper and silver, as such purchases are believed to bring 'lakshmi' or wealth and prosperity into your home throughout the year that follows. (Image: Reuters)
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It is considered an auspicious occasion to buy gold and other valuables like ornaments and gemstones, apart from metals like copper and silver. The purchases are believed to bring wealth and prosperity into your home throughout the year. (Image: Reuters)

Ahead of Dhanteras, gold prices rose on October 24 in the domestic futures market. Rates touched an intraday high of Rs 38,115 and an intraday low of Rs 37,999 on MCX. (Image: Reuters)
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Ahead of Dhanteras, gold prices rose on October 24 in the domestic futures market. The yellow metal touched an intraday high of Rs 38,115 and an intraday low of Rs 37,999 on the MCX. (Image: Reuters)

In the Mumbai bullion market, the yellow metal saw a gain of rs 19 in prices to Rs 38,450 per 10 gram of 24-carat gold (plus 3 percent GST), on the back of festive demand. (Image: Reuters)
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In the Mumbai bullion market, the precious metal saw a gain of Rs 19 to Rs 38,450 per 10 gram of 24-carat gold (plus 3 percent GST), on the back of festive demand. (Image: Reuters)

First Published on Oct 25, 2019 07:52 am
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