Gold prices traded in the green today on the occasion of Dhanteras 2018. Gold today will cost you Rs 32,260 per 10 gram. However, gold coins and gold biscuits are available in 24 carat. 10 gram gold of 24 karat purity was priced at Rs 32,260 on Monday while gold of 22 karat purity was priced at Rs 31,100 according to data available on Multi Commodity Exchange (MCX). The gold rate in Mumbai is usually decided by jewellers Associations in the city, primarily by the Indian Bullion and Jewellers Association (IBJA). IBJA arrives at the daily gold price based on international trends and by including gold import duty.
Why buy “gold” on Dhanteras?
It is believed that new “Dhan” (wealth) or some form of precious metal is a sign of good luck. In modern times, Dhanteras has come to be known as the most auspicious occasion for buying gold, silver and other metals especially kitchenware. Dhanteras is a celebration aimed at increasing wealth and prosperity.
Dhanteras, the start of Diwali
Diwali festival and its celebrations usually last for five days, among which the third day is the main day. During all the five days of Dhanteras, Chhoti Diwali, Badi Diwali, Govardhan Pooja and Bhai Dooj, houses, temples, and public places are all lit up with lights and earthen lamps. The themes of ‘victory of good over evil’ and ‘victory of light over dark’ are associated with the festival. The festival falls in the month of Karthik, according to Hindu calendar.
People have already chalked out their expenses, making sure they buy a piece of yellow metal for themselves. The festival which is of 5 days, begins with the most auspicious occasion of Dhanteras on Monday, during which buying gold is a given.