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Buying Gold on Makar Sankranti

Makar Sankranti marks the first day of the onset of the new harvest season in India. People worship different deities and celebrate by buying gold on Makar Sankranti for wealth and prosperity throughout the year. The festival generally falls on the 14th of January every year. However, in some years, it is celebrated on the 15th of January as well. It marks the entry of the Sun into the Capricorn and the Sagittarius.

Gold on Makar Sankranti

Purchasing gold on Makar Sankranti has become a ritual in different households in India. Purchase of this precious metal can be in different forms, such as coins, bars, and jewellery. This is so because buying gold on this day is considered auspicious and believed to attract good fortune. Additionally, there are several advantages of buying this yellow metal during Makar Sankranti that you can benefit from. 

However, you must have a holistic idea about Makar Sankranti to understand the essence of purchasing gold during this time.

What is Makar Sankranti

Makar Sankranti happens to be the first Hindu festival of the year which is celebrated across the country. People worship the Sun God along with Goddess Lakshmi and Lord Vishnu. They also celebrate this festival by flying kites, organising fairs, preparing feasts and lighting bonfires. Many people also invest in gold as well on this auspicious day for various reasons. However, it has different names in various states, such as:

  • Poush Sankranti in West Bengal

  • Uttarayani in Uttarakhand, 

  • Sankranti in Andhra Pradesh and Telangana,

  • Uttarain, Maghi Sangrand, or Uttarayana in Jammu

  • Shishur Senkrath in Kashmir

  • Dahi Chura in Bihar, 

  • Pongal in Tamil Nadu, 

  • Sakraat in Rajasthan, 

  • Sakrat in Haryana 

  • Khichdi Sankranti in Uttar Pradesh, 

  • Sukarat in central India, 

  • Uttarayan in Gujarat, and Uttar Pradesh, 

  • Maghi Saaji in Himachal Pradesh, 

  • Ghughuti in Uttarakhand,  

  • Makar Sankranti in Odisha, Karnataka, Maharashtra, Goa

 

This auspicious day is celebrated in other countries as well, where it is popular by different names.

  • Thingyan in Myanmar

  • Mohan Songkran in Cambodia

  • Maghe Sankranti in Nepal

  • Songkran in Thailand

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Importance of Buying Gold on Makar Sankranti

Below are some reasons why purchasing goals on Makar Sankranti is beneficial:

  • Attractive Discounts on Making Charges

You can get attractive discounts on making charges from the jewellery shops. This allows you to save more on the cost of jewellery. However, this discount varies considerably with merchants. So you can compare the discount percentages to select the most affordable one.

Also, you must not compromise on the quality of gold while selecting a jeweller shop.

  • Profitable Investment Option

This yellow metal has proven to be one of the best investment options. This is because it provides sumptuous returns as the gold rates keep fluctuating. So, you can sell the jewellery or coin when the prices are high to increase your capital gains. Also, you can easily purchase it as per your preference and budget. 

  • Perfect Gifting Option

Gold is a perfect gift option. The receiver can mortgage it in case of opting for a secured loan. This offers them financial security as they can get a substantial loan against gold. You can gift gold in different forms, such as coins or jewellery or coins, as per your convenience. Gifting gold reflects the value of the receiver in your life and strengthens your bonds with them.

  • Brings in Good Fortune for the Year

Gold symbolises prosperity, good luck and auspiciousness as per various religious texts and epics like Ramayana and Mahabharata. People perform a ritual of purchasing this precious metal to invite Goddess Lakshmi and Kuber, deities of wealth in Hindu mythology, to reside in their households throughout the year. Additionally, the pleading colour of gold spreads positivity among people. 

  • Symbol of Wealth

You can convert gold into cash at any time to meet financial emergencies. Also, it is a secured asset and is easy to store and transfer to different places. Moreover, you can get nearly the exact value of gold anywhere in the world. So, you can easily sell your jewellery to meet your needs. 

You can check out examples of some offers that jewellers usually provide on buying gold on Makar Sankranti. 

  • Special Gold Offers in Makar Sankranti

You can get different offers on gold during Makar Sankranti, such as:

  • Free gold coins on purchasing jewellery above Rs. 10,000.

  • 30% off on making charges for the jewellery that you are buying.

  • 10% discount on gold coin making.

  • Zero deduction on the price of old gold. 

  • Rs. 100 off on the current gold rate.

Please note that these are some of the most popular offers as provided by reputed sellers. You should always check with the seller while opting for any such offer.

However, there are several terms and conditions for getting these offers when you buy gold on Makar Sankranti. 

It is essential that you make sure of the purity before buying gold on Makar Sankranti. There are several ways of checking the same. You must only purchase gold that has a hallmark indicating the purity of gold. This ensures that you do not end up being a victim of fraud.

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FAQs on Buying Gold during Makar Sankranti

As it marks the onset of the harvest period, Makar Sankranti is an auspicious day to purchase gold. This will bring peace and prosperity into your life and attract wealth and good luck.

During your purchase of gold on Makar Sankranti, you can find out the most auspicious time or "Muhurat". This increases the auspiciousness of the metal and attracts prosperity. In financial terms, you should purchase gold when the market rates are down and somewhat flat.

Pushya Nakshatra, also known as Pushya, Pushyami, Poosam, and Pooyam in India, is the most auspicious to purchase gold in Makar Sankranti. 

It is not compulsory to purchase gold on Akshaya Tritiya. However, you can make a purchase of gold jewellery keeping in mind the attractive offers that you can get during this time. This helps you save more on the cost and increase your profits as the price of the metal rises.

You can purchase gold jewellery and coins or even gold bars. These can be of different weights and designs according to your budget. Additionally, there are gemstones that you can purchase after proper consultation with astrologers.

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