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Tuesday, November 2, 2010

Will people hold back buying gold for dhanteras ?



Dhanteras marks the first day of the five-days-long Diwali festival. Dhanteras festival, also know as Dhantrayodashi. The word 'Dhan' literally means wealth and 'Tera' comes from the date 13th. People flock to the jewelers and buy gold or silver on this occasion. On Dhanteras Hindus consiger it auspicious to purchase gold or silver articles or at least one or two utensils. It is believed that new "Dhan" or some form of precious metal is a sign of good luck. Diyas of clay are lit and "Laxmi-Puja" is performed in the evening. 

Dhanteras holds special significance for the business community due to customary purchases of precious metals on this day. With high prices will people hold back buying gold for Dhanteras ?

On Nov 3rd India celebrates  Dhanteras and on Nov 5th Diwali.


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