Software & Finance - Monthly Magazine Online

Volume 2 - Issue 5

May 2012

Buying Gold on Akshaya Tritiya

Akshaya Tritiya is a Hindu People's holy day. It comes on the 3rd lunar day in the month of Vaishakha. Vaisakha is the second month of the year, beginning on April 21 and ending on May 20. As the 3rd of this month, that is Apr 24 is celebrated as Akshaya Tritiya by Hindu People. This day is also the birthday of Lord Parasurama.


On this day Veda Vyas and Lord Ganesha began to write Mahabharata. The meaning of the word Akshaya is infinite that which never recede.


Lord Rishabhdev denounced the worldly pleasures after dividing his vast kingdom in his 100 sons, he meditated without any food and water for six months. Once he reached the stage of enlightenment, he went to accept the food. But the people of Ayodhya offered him gold, jewellery, gemstones, elephants, horses, expensive garments and even their daughters to honour their beloved king.


Lord Rishabhadeva sought only a morsel of food, but nobody offered it to him. Nobody understood that their king was looking for to receive food to ensure that the monks that would come after him get food and water in the purest form needed to lead a ascetic life.


As there was no choice, he had to fast for a long time of one year until his grandson Shreyansha Kumara understood his need due to his "purva-bhava-smaran". Finally Shreyansha Kumara, offered him sugarcane juice and thus Rishabhadeva ended his fast after a year. This was on the day of Akshaya Tritiya.


Akshaya Tritiya day is when Sun and Moon are in equally exalted position and considered as very auspicious day.


Today in commerical world, since the word "infinite that never recede" got into people's attention. So people started buying gold, gold coins, properties, etc and also starting new business or ventures. Since they belive the asset will always stay with them.


People did not catch the point that Lord Rishabhadeve did not want gold and he is just in the need of food. Doing charity and dontaing food on this day is the most relevant relevant point. Gold sellers and commercial people started taking advantage of this day to stock more good and speculate the gold futures in advance to make profit.


To really celebrate Akshaya Tritiya, you may buy gold for US$ 1000.00. But the real fulfillment will come, if you spent at least one dollar towards charity.