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Buying Gold on Dhanteras 2022

The first day of Diwali, the ‘festival of lights’, is also celebrated as ‘Dhanteras’. On this day, Indians, by tradition, worship Lord Kuber and Goddess Lakshmi. Also called Dhanatrayodashi, Dhanteras means prosperity and wealth, and hence the day is considered auspicious to purchase precious metals. Therefore, people buy gold on Dhanteras and other precious metals like silver to welcome fortune, health, and wealth. 

Timing to Buy Gold on Dhanteras

The term Dhanteras is derived from 'Dhan', which signifies wealth, while 'Teras', which represents thirteen. The festival takes place on the 13th day of Krishna Paksha according to the Hindu calendar. Since the festival symbolises fortune and wealth, buying gold on Dhanteras is considered a wise investment. 

 

Furthermore, several jewellers offer special discounts on purchasing Dhanteras gold coins on this occasion. This event marks the beginning of Diwali when people buy gold items like gold coins, gold ornaments, and other gold products. 

 

This year, the auspicious time to buy gold on Dhanteras is on 22nd October 2022. The timings are classified as per three different sessions of the day following Hindu lunar calendar and mythological calculations. They are:

 

  • Early Morning Muhurat (Labha): 5:02 am to 6:35 pm  

  • Evening Muhurat: 6:11 pm to 7:45 pm

  • Night Muhurat (Chara, Amrita, Shubha): 9:17 am to 1:56 pm

In addition, if you want to buy this attractive yellow metal on the following day, i.e. on Sunday, 23rd October, you will get the advantage of the Choghadiya Muhurat, which is quite similar to the timing of the Dhantrayodashi.  

Why Is It Good to Buy Gold on Dhanteras

Among all precious metals, gold has carried a unique sentimental value for Indians over the centuries. Everyone, from businesspersons to common households, consider the day of Dhanteras auspicious to buy gold and silver ornaments and coins. 

 

In fact, a popular myth tells us why millions of Indians consider buying gold on Dhanteras as auspicious. According to the saga, the horoscope of the 16-year-old King Hima forecasted the death of the king by a snake bite on the 4th day of getting married. 

 

In order to save her husband, the newly married wife of the king kept loads of her gold and silver ornaments at the doorstep of the king’s bedroom. Thereby, when the god of death Yama reached there to take the king’s soul, his eyes got dazzled by the striking gold and silver ornaments and coins.

 

Being incapable of entering the room, Yama sat on the heaps of ornaments and listened to different stories and songs the king’s wife sang to stop his husband from sleeping. Eventually, Yama left the place silently without attempting to take the king's life. Since then, purchasing gold on this particular day has been believed as auspicious and divine to keep evil away from the family and bring prosperity.

 

Apart from this mythological belief, many people, especially businessmen, buy gold on Dhanteras primarily due to the following reasons:

  • Gold maintains its value

Through the ages, gold has proven to retain its value. This makes people consider it a sensible way to preserve wealth and pass it down through generations.  

  • Low-risk option for investment 

Compared to putting money in stocks, shares, and cryptocurrencies, investment in gold has always been considered low risk. This inspires people to invest in Dhanteras gold coin.  

  • It is a tangible asset 

One of the reasons that people prefer to invest in gold is that it is a tangible asset and has been considered a safe haven over the years.

  • High liquidity

Compared to all other investments, gold has faster liquidity. Thus, in case of emergency, you can sell your gold immediately at the current market price.  

Having gone through the reasons that make people purchase gold, let’s check out the current price of Dhanteras gold.

Dhanteras Gold Price

As on 17th October, 2022, price of 22-carat gold is Rs. 48,705.25 per 10 grams and 24-carat gold is Rs. 48,729.73 per 10 grams.  

Dhanteras Gold Offers

There are several attractive discounts and offers available on gold from several online and offline jewellers, marketplaces, and financial institutions during Dhanteras. For example, in 2022, Amazon brings you special offers such as:

  • Get gold coins at up to 20% off

  • Get gold rings starting from Rs. 1999 only

  • Gold pendants at up to 50% off

  • Get a discount of up to 40% off on gold and silver jewellery

  • Gold Earrings are available under Rs. 9999

  • Get gold-plated kitchen range are obtainable at up to 60% off

  • Get gold Plated Range up to 30% off

  • Gold Chains at up to 50% off

Now that you understand the reason of buying gold on Dhanteras, you can purchase this yellow metal on the eve of Diwali. First, however, make sure that you check out the timings of purchasing gold apart from the special offers and discounts.

 

Disclaimer: The schemes mentioned here are subject to the terms and conditions of financial institution. You can contact the lender for more information.

FAQs On Buying Gold on Dhanteras 2022

  • ✔️Why do people buy gold on Dhanteras?

    Gold products and ornaments are a tradition of Indian culture. People consider it a symbol of blessing, prosperity, wealth and fortune. Furthermore, people see gold as a personification of Goddess Lakshmi. In addition, since, Dhanteras signifies the event of Diwali, people purchase plenty of gold during this time owing to its offers and discounts.

  • ✔️What is the auspicious time to buy gold on Dhanteras?

    The auspicious time to purchase Dhanteras gold coins and other gold ornaments are 22nd October 2022. The timings to purchase this yellow metal are from 5:02 to 18:35, 18:11 to 19:45, and 9:17 to 13:56.

  • ✔️What is the Dhanteras gold price in 2022?

    On MCX or Multi Commodity Exchange, as of 17th October 2022, the market price of gold is Rs. 46,610 for every 10 grams.

  • ✔️Is it okay to buy gold on Dhanteras?

    In addition to its benefit as asset, buying gold during Dhanteras is considered especially auspicious. Moreover, since during Dhanteras, plenty of offers are available on gold ornaments and other gold products, people purchase this yellow metal in a large amount.

  • ✔️ What is the gold offer on Dhanteras 2022?

    Several online and offline stores provide attractive offers on buying gold during Dhanteras. Check out the offer list of Amazon, for example:  

    • Gold Earrings are available under Rs. 9999

    • Get gold-plated kitchen range are obtainable at up to 60% off

    • Get gold rings starting from Rs. 1999 only

    • Gold Chains at up to 50% off

    • Get a discount of up to 40% off on gold and silver jewellery

    • Get gold coins at up to 20% off

    • Gold pendants at up to 50% off

    • Get gold Plated Range up to 30% off

    Disclaimer: Offers and schemes mentioned here are subject to the regulations of each concerned financial institution. Please contact the lender for more details.