celebrate Akshaya Tritiya 2019

Can you identify or know what this is ? 

This morning read a little story on FB – it brought out in detail, the middle-class ‘newly wed girl’s encounters with in-laws’ – a day closes with a big fight, making it sleepless night for the person trying to balance between newly married wife and his mother – in the morning he wakes up to find, both not at home- confused and worried – he runs around, only to know that both have made a beeline to a nearby jeweller to buy gold for this special day [height of imagination or real experience camouflaged !]

“For centuries, gold was measured in “tola”  but the advent of metric system overtook this historical association – nowadays, you read daily about the change in price per gram !

In life’s race, often the destination too is forgotten – every morning you wake up, to start running and feel mission unfinished as you hit the bed .. .. why not change it today ! ~ may be with a small gesture of changing the way you look at the World, the people around – sometime some small gestures makes you feel happy .. .. ..

Gold prices are trading modestly higher in early-morning U.S. trading this week, following a U.S. economic report that was much stronger than expected. Gold’s resilience in the face of the strong jobs report suggests recent selling pressure has at least temporarily exhausted the bears, and the yellow metal is due for at least a respite from downside pressure.  This morning’s just-released April U.S. employment report from the Labour Department showed a rise of  263,000. The number was forecast at up 190,000. The internals of the jobs report were also very upbeat, including upward revisions to the March non-payrolls number. This report falls into the camp of the U.S. monetary policy hawks, who do not want to see the Federal Reserve cut interest rates anytime soon, and would like to see a rate hike.

Back home, for sure you would have noticed so many advertisements and offers being made by famous as also little known jewellers – and everyone is shouting to offer gold ! ~ today there would be huge crowds at gold jewellery shops, while smart some would have made online purchase or pre-booked their share of gold. No prize for guessing what the buzz is all about – it is ‘Akshaya Tritiya 2019’

Akshaya Tritiya 2019 ~ is making waves… .. Gold can never go out of fashion for investors. No matter which country you stay in, what your age is, which economic class you belong to, what profession you pursue--anybody who thinks of savings and investments has always given gold a thought, especially on days like Akshaya Tritiya, which is considered to be an auspicious occasion for buying the precious metal.  (that would sound more like a promo !)

As you open the newspapers today, you see more advertisements, there would be more milling crowds at T Nagar : – crowds and TNagar – strongly bonded.  Many jewellers would add spice with famous and little known stars of tinseldom.  As India celebrates the festival of Akshaya Tritiya today, many persons might be thinking of buying gold on an auspicious day. State Bank of India (SBI), India’s largest bank according to asset size and the number of customers, has been offering various co-branded offers on gold purchases via SBI credit cards on Akshaya Tritiya 2019. The cashback offer on gold purchases from Kalyan Jewellers is one of them. A person can avail 5 per cent cashback of up to Rs 2,500 on gold purchases from Kalyan Jewellers. Individuals willing to avail the cashback should note that the minimum order transaction should be Rs 25,000 and above. Today, May 7, 2019, (Akshaya Tritiya 2019) is the last day to avail the cashback offer. The offer is valid on all the SBI credit cards excluding the SBI corporate credit cards. (another promo)

-- Investments in gold or other precious metals protect you from the risks of inflation. It has been noticed that gold has outperformed the inflation rate over the years and has served as an inflation hedge in the long run. The annualized return of gold over 10 years has been way higher than that of inflation, which means that the yellow metal has given individuals a real rate of return.

-- Gold is a highly effective portfolio diversifier due to its low-to-negative correlation with all other major asset classes. However, there is some evidence that when equities are under stress, an inverse correlation can develop between gold and stock markets. So gold can protect your portfolio in times of volatility.

The reason why gold is highly valued is because it is scarce as well as finite. Fewer gold mines are being discovered today because exploration budgets are shrinking and mining costs are rising. The “easy” gold may have already been mined. With lower annual gold production and rising demand, existing gold could become even more valued in the future, giving you and your future generations a chance to earn higher returns.

At Singapore, Spot gold may break a resistance at $1,291 per ounce and edge up to the next resistance at $1,299. These resistances are identified as the 61.8 percent and the 50 percent projection levels of a downward wave C from $1,324.33. On the daily chart, gold is retesting a resistance at $1,284. It is expected to overcome this barrier and edge towards a trendline resistance around $1,297, which falls within the range of $1,291-$1,299

If you are middle aged – you know for sure – a couple of decades ago, we never knew that ‘Akshaya tritiya’ existed – not our fault ! One of the most important legends associated with observing Akshaya Trithiya is that of Lord Krishna and Kuchela. Another significant mythology is that of the Pandavas receiving the Akshay Patra from Krishna.  Now they are associating it with Parasurama too. The auspicious occasion of Akshaya Tritiya marks great spurt in gold jewellery sales. The yellow metal has always had its share of symbolic value – rich invest in it; everybody wears and flaunts them.  Does it have medicinal property too ?  in my younger days, people used to talk that MGR is shining because he takes ‘thanga paspam’-  thought to be a potion containing some Gold; whether it was Gold ash or some other herbs taken as ‘kaya kalpam’ one would never know !  In Siddha and Ayurveda, people say gold is an excellent source of medication !  The yellow metal is believed to be a rejuvenator !!

My personal belief is when you have money – any day is a good day to buy, save and cherish.  If you think, the day on which rates are lowest is the best day to make a purchase.  The schemes of double benefit, free gold, AT offers, double gold protection offer or anything else all sure would do great for the Seller and little for the poor buyer who would scratch and buy one or two grams of gold, which is unlikely to change your life fortune…. And if you are bent on doing something on an auspicious day…… [it need not be buying gold alone !] – you may perhaps do the following :

·                  if you do charity, you will be blessed and the blessings will increase manifold.

·                 Any venture initiated on the auspicious day would grow and bring in prosperity.

·                  It  is most beneficial for performing meritorious (Punya Karma) deeds such as recitations (Japa), penance (Tapa), and other spiritual activities.

·                   A good day to start education and read more.

·                   Feed cows and other cattle with green fodder

·                   Resolve to  take up the education expenses of a deserving, needy child.

·                   Obliterate the bitter memories of the past and  renew relationships with friends and relatives

·                    resolve to give up a bad habit – smoking, drinking, anger, hatred etc.

·                    resolve  to start a good habit – learn and practise Yoga.

·                    If Saving is utmost in mind, there are various other avenues including Fixed deposits in Banks, Post Office savings

·                    Take insurance policy and have full protection for your family

·                    Serve and support a good Organistaion rendering Social service  that you know (perhaps you can think of SYMA )

·                    If you are residing in another place, call on your parents and old aged relatives seeking their blessing.

Happy Akshaya Trithiya ~ plan it to be a Good day for Self & family, rather than for the trader alone.

With regards – S. Sampathkumar

7^th May 2019

** the photo at the start is of a gold mine  at Olimpiada – located in  one of Russia’s most prolific gold mining provinces, Olimpiada is Polyus’ largest operation.To treat Olimpiada’s sulphide ores, Polyus employs BIONORD, the company’s proprietary bio-oxidation technology. Successful exploration activities in the area indicate the potential for substantial extension of the life of this mine.