Diwali is a Hindu festival of lights, celebrated in the northern hemisphere in autumn and the southern hemisphere in spring. This is often a boisterous event celebrated in all areas in India. This is generally marked by an orchestration of fireworks and traditional gambling at home. The purpose of firecrackers being ignited from dusk is to announce the defeat of the evil and wake the attention of the gods, through the loud noise.
This event is generally celebrated for a total of five days with the most important day resting on the third one. This year the day falls on Wednesday, November 7th. Celebrating this day usually comes through many traditions. This includes the placing of small oil lamps through homes, shops and offices throughout the five days. This is practiced in order to celebrate the return of Lord Rama’s (Hindu god) return, after 14 years of exile.
It is also believed that the goddess of wealth – Lakshmi, visits homes of those that are clean and lit. In order to allow this visitation, windows and doors are left open to welcome Lakshmi in. Others believe that a Hindu deity played a game of dice on the fourth day of Diwali and won. Therefore, many people believe that through gambling in their homes, Lakshmi can be invoked.
Diwali for many also marks the start of the new Hindu financial year. Therefore, traders, businessmen and shopkeepers open new accounts books. Others take Diwali as a celebration of the end of the harvest of rain fed crops. Many villagers practice a prayer ritual on their assets in order to pray for a good harvest to come.
People generally define their Diwali with humble offerings and feasts. However, others often present gold and jewelry for their loved ones on this day.
Gold has always been a common and traditional investment for Diwali as well as Dhanteras. "Seeing the rising gold prices due to festive demand, it is suitable to have 10-15 per cent allocation given towards gold or gold funds," stated Dinesh Rohira, Founder and CEO at 5nance.com. However, instead of investing in physical gold, people are slowly converting to investments in gold in electronic form which “can be sold instantly on the exchange” said Aditya Maru, Founder and CEO, Augain Wealth Management Private Limited. Gold bonds are also gaining interest. This generally pays a fixed interest plus capital appreciation opportunity which is correlated to the gold’s price movement.
We at Millwood Kane International wish you and your family a wonderful Diwali. An occasion to celebrate light over darkness and victory over defeat. We hope this Diwali brings prosperity to your business and happiness to your family.Share Share Share