The festival of Akshaya Tritiya is around the corner. Predominantly a festival of Hindus and Jains it is the annual spring festival. It falls on the third Tithi (lunar day) of Vaishakh month of the Hindu calendar. This year Akshaya Tritiya falls on April 18, 2018. Indians popularly conduct worship of wealth and pray for prosperity on several festivals. But Akshaya Tritiya is one festival, where people buy gold. It is a festival to worship Gods of wealth- Goddess Lakshmi and Lord Vishnu as well.

The Sanskrit term Akshaya means one that can never be diminished. So the day is believed to bring in lot of good luck and prosperity. There is a belief that one will seek a longer luck and fortune if they buy precious metals. So a lot of people invest by buying gold, in the form of jewellery or just metal bars (coins or biscuits). According to the mythological beliefs, the God of Wealth and treasurer of all deities 'Kubera' is said to have received the riches and position when he prayed to Lord Shiva at Shivapuram on Akshaya Tritiya. So be it buying gold or starting out a new venture, it is considered very auspicious.

The tradition has been continued through the years and gold is a good investment, considering the rates keep skyrocketing at every interval. With the demand rising around the festival, the rates only soar up. Nowadays, buyers also offer discounts on making charges which can lower the cost of the jewellery items. The soaring demand also affects the market on the whole, but it always advised to check the returns trend before investing in buying gold.

While some people prefer buying the precious metal before the actual festival date, many believe in the importance of the very day to buy gold. Buying gold is considered to be a factor of wealth, making it a common investment. Akshaya Tritiya actually celebrates and advocates getting in wealth and not just prayer for it.

(The above story first appeared on LatestLY on Apr 16, 2018 02:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).