Akshaya Trithiya 2023: When all that glitters is gold

Sanctioned by divine blessings, shopping for gold this weekend is considered auspicious. (Photo by Rodnae Productions via Pexels)

This weekend, many Indians will be headed to the gold souks. It is not like we need an excuse to buy gold – but Akshaya Trithiya gives us a God-given muhurtham to shop for bullion. Gold is investment, insurance, adornment, money in the bank, status symbol, and can be pawned or sold for instant cash at any time. And though gold has its own happy birthday on October 23 this year, every day is gold day. For we don’t reserve gold jewellery for weddings and festivals only; this is a metal we wear round the clock. Around our neck, around the wrist, around the ankle, around the finger, around the toe, and in our ears and nostril.

Gold basks in its own glow. The sunset is golden, a 50th wedding anniversary is golden, a handshake can be golden and silence is golden. Oceans have gold, it is in some medicines – there is a gold injection – and cosmetics can contain gold, which is why there is the gold facial. If you have a gold tooth and you are served paan with gold vark, you can eat gold with gold. There is cloth of gold and pot of gold, which is at the end of a rainbow. We have gold standards and golden principles, as also the golden mean courtesy Aristotle. And never be taken in by fool’s gold, it is only iron pyrite, because all that glitters is not gold.

Also read: Looking to invest in gold this Akshaya Tritiya? You can still bank on gold ETFs’ shimmer

Gold is embedded everywhere: in all our ancient monuments, which therefore were looted, and in temple treasuries, donated by devotees, where it is unearthed many years later with its ownership up in the air… There are movies like Mackenna's Gold and books like The Golden Compass. Gold dust, which is fine particles of gold, just indicates how tough it is to obtain what you liken it to.

China is the largest producer of gold in the world and Kerala is the largest consumer of gold in India, while the US has the most gold reserves. With diamonds and precious stones, along with silver, very much in the picture, especially among the new generation, old is gold for the oldies. Youngsters fail to understand the fuss over gold, favouring as they do crystals, costume and junk jewellery. The stress has shifted to whatever’s in fashion, and the resale value system is in danger of a shakeup. Not under our watch, says the previous generation, rushing out to buy more gold.

Sanctioned by divine blessings, shopping for gold this weekend is considered auspicious. What you buy will multiply; prosperity is a sure thing in the near future. A visit to any random gold store shows you how serious the crowd is. All the while, though, gold prices are climbing and climbing and climbing. Which, of course, makes this metal an ideal target for chain-snatchers.

Which is why the Malayalam song Entammede jimikki kammal went so viral. The very idea of it being stolen, even if by a close relative, strikes terror in the gold hoarder’s heart.

Also read: Sovereign gold bonds – should you buy them this Akshaya Tritiya 2023?