Gold is not just a metal in India. Traditional values and emotional connections are associated with Gold. Intricate pieces of old gold jewellery pass through generations as heirlooms. Gold has also been woven into the lore of prosperity over the years. Buying gold on occasion has been a year-old ritual among Indians. It’s an asset to be cherished and preserved forever. But not always. The happiness and fulfilment one can experience when buying a piece of gold equals the peace and relief one feels when selling it during a financial crisis. Gold is your saviour in trouble. You can opt for top gold buyers like Cash On Old Gold to exchange gold for cash to solve the issue. India witnesses a high ratio of both gold purchases and sales. When buying gold jewellery, coins, or bars, buyers often check the day of the week. On the other hand, sellers often ask whether to sell gold on Thursdays. 

Curiosity is deeply associated with tradition, belief, and value. But does the day truly matter? The idea is more about cultural values or finance. 

Which Days Are Considered Auspicious for Gold Purchase?   

In India, gold purchases are closely linked to customs rather than market timing. Those days include – 

• Dhanteras and Akshaya Tritiya 

These auspicious days are considered ideal to buy gold to ensure good fortune. Families rush to purchase gold these days for prosperity.   

• Weddings 

Indian families often buy heavy gold jewellery on occasion. Gold is considered an auspicious metal that confers blessings on the occasion. 

• Fridays and Thursdays    

Fridays and Thursdays are considered auspicious and dedicated to Goddess Lakshmi.

She is the Goddess of wealth. Therefore, many see these two days as an ideal time to buy gold. 

Which Factors Influence Gold Price?

The gold price fluctuates every day, influenced by a number of factors. A certain number of factors help you make the right decisions when purchasing gold. 

• Global Economic Conditions: People buy gold before economic instability hits. 
• Inflation Rate: When inflation is high, the price of gold rises. 
• Rate of Interest: Low interest rates make gold investment more in demand. 
• Currency Strength: When the currency is weak, gold is more costly in that currency. 
• Supply and Demand: Changes in gold mining and demand shift the price level, influencing the gold price. 

• Geopolitics: Wars and political unrest change the gold price.  

How Lucrative Is It to Invest in Gold?

A common question that buyers often ponder: Is gold investment lucrative? 

The answer depends on how you view it and your investment goals. You must remember a few things, as follows. 

• Gold does not offer quick returns. You can invest in gold for stability and protection against price rise. 
• Gold is a stable investment option, whereas other investment options, like stocks or crypto are unstable. 
• Gold diversifies the portfolio of long-term investors. 

The best ways to invest in gold include physical gold, sovereign gold bonds (SGBs), gold ETFs or digital gold. You need to choose the best financial plan when investing your gold rather than worrying about which day of the week is best. The same applies when you plan to exchange gold for cash. 

Is Saturday Auspicious for Buying Gold?

Beyond the religious and cultural beliefs associated with each day of the week, Saturday is a good day to purchase gold. Indian gold jewellers are always open for purchase, following the standard price formula like any other day. Weekends are no different. The international benchmarks remain the same on the weekends. Gold rates stay the same as the last traded market before the market closes for the week. The pricing is the same on Saturday afternoon and Tuesday morning, being the end and beginning of two subsequent weeks. 

Is there Any Myth About Gold Purchase?

Myths are not based on logic. Whatever the myth says about the perfect day of the week to purchase gold lacks evidence. The Global market determines the gold price. Each day from Monday to Friday, the economic standards set the gold price. Superstitions or beliefs don’t hold any valid place in the decision-making process. Days during the occasions and festivals feel more special, but again, it has nothing to do with the price. You can make better purchase or sale decisions by focusing on the international gold price, the metal’s purity, and trusted jewellers and sellers. 

Astrological Beliefs on Buying Gold

Astrology has once again advanced in today’s world, influencing individuals’ critical life decisions. Strong astrological belief plays a key role in gold purchases. According to various cultures, some days are not so auspicious as others, given the planetary positions. When making a decision, beliefs leave a strong impact. Those include – 

• Lunar phases 

Gold purchase on specific lunar phases is considered to bring good luck. 

• Planetary positions 

Certain planets or stars are regarded auspicious for financial investments or transactions.  

• Zodiacs 

Gold purchases by sure zodiac signs are considered suitable for financial investment. 

• Weekdays 

Each day of the week is associated with a planet. The influence of the planets determines the fortune of buying gold. For example: Venus. Venus is associated with Friday. Also, Thursday is known as Lakhsmi (the Goddess of Wealth) bar (day). These two days are usually considered auspicious for buying gold jewellery or pieces of gold. The same kind of beliefs also apply to selling gold. When you exchange gold for cash in Kolkata, choose a trusted gold buyer like Cash On Old Gold. 

A Few Tips for Buying or Selling Gold

According to experts, you must consider a few tips before buying or selling gold. Follow the tips below to ensure you make the right choice. 

1. Research on price

Keep track of changes in the gold price and understand price trends to make effective decisions. 

2. Purity check

You must check the gold purity and look for certification and hallmarks. 

3. Perfect timing

Stay updated on market conditions and purchase gold when prices are low. On the other hand, wait for the right time and sell gold to obtain the best price. 

4. Be aware of extra charges

Know the additional costs and taxes associated with the buy-and-sell process, and make your decision wisely. 

5. Listen to Experts 

Always consult financial experts before buying or selling gold to ensure the best value. 

6. Finding a reputable seller or buyer

Choose reputable gold buyers or sellers to avoid any low-cost or poor-quality gold. 

Bottomline

In India, every gold purchase is linked with tradition, emotion, and culture. Every purchase holds a special significance in the hearts of the buyers. When buying gold, don’t focus only on auspicious days; focus on market trends instead. Learn how to invest in Gold. It does more than just meet your financial crunch. The asset makes you financially and emotionally strong. And, when you face a financial need, exchange gold for cash from trusted gold buyers like Cash On Old Gold in Kolkata. Make sure you make the right choice in your gold buy-and-sale process.