The media around the country flash one prominent news amongst others - Collapse in the Greece market triggers gold price rise - even in India. As a result, gold price is at an all time high hovering around 55k per oz. Going by this, you would expect a heavy selling from customers with possession of gold to make the most out of the boom. If you are expecting this, prepare to get disappointed as we live in India where laws of economics prove themselves wrong time and again.
Tomorrow is the 16th May and all the Jewellery shops around the country are going to be packed with people who vie for their share of Gold. And the reason? Akshaya tritiya.
Akshaya means never diminishing and tritiya means day ( both in Sanskrit.) So, Akshya tritiya is a day that brings you good luck and success. If you do charity on this day, the returns will be many fold. However, look at how this has morphed over the years. Shrewd marketing by Indian Jewellers, coupled with the naivety of Indian consumers has resulted in an interpretation that goes something like this - buy as much gold as you can on this day and you will inherit more and more gold with time.
Clearly, India is one of it's kind - in every aspect of life!
