We suddenly find ourselves getting closer and closer to the Diwali celebrations this year as the warm summer days give way to the cooler nights of autumn. Additionally, this year, Diwali begins on October 24—a very early start. The purchase of gold will continue to be a major component of the celebrations.

Gold and Diwali

Gold's centrality to the Festival of Light is not new. We adore the well-known Hindu myth that the son of King Hima was destined to die from a snake bite on the fourth day of his marriage. According to the narrative, his wife's act of accumulating all of the family's gold outside the door was the only thing that saved him from certain death. The snake was so dazzled that he was unable to move beyond the gold and fled.

Diwali's first day, Dhanteras is celebrated on this day. The son of King Hima and his wife's golden safety barrier influenced the importance of gold gifts, particularly jewelry.

Invest in gold during Diwali In recent years, however, there has been a trend toward purchasing more than just traditional gold jewelry during the festival. Purchases of gold bullion and coins are among the more investment-oriented options that many people are now considering.

This is for a very good reason. Even though Hindus are primarily culturally attached to gold, there is a distinct streak of investment wisdom involved because gold holds its value well against stocks and shares and uncertain national currencies.

As a quote from Jeffrey A. Franks: From France to India, holding gold has frequently served as the only way for peasants to protect themselves from inflation. Gold is a form of financial security for each and every one of us, not just a luxury for the powerful.

The global price of gold has increased since the financial crisis when national economies and currencies were more volatile. This is especially true in Indian culture, where inflation has skyrocketed in recent years despite the declining value of the Indian rupee.

Buying gold bars and coins is not just a luxury for Hindus or people of any other culture; it's also a smart and educated investment opportunity. Diwali is the ideal time to seriously consider this as an investment strategy.

When to buy gold Due to increased demand, the price of gold typically reaches its highest point worldwide around Diwali. In 2016, the price of gold increased by 3.9% from October 11 to November 4. This year, the same thing may occur.

So, if you want to buy gold for Diwali this year, either as an investment or as a gift for a friend or loved one, you should act quickly before the price starts to rise.
Check out our gold price charts here if you want to monitor the price of gold. Alternatively, if you're looking for some ideas for the ideal Diwali gifts, take a look at our selection of commemorative gold coins.