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Kickstart your gold-saving journey on Dussehra 2024! Learn why this auspicious time is perfect for investing in gold and securing a brighter financial future.
With the festive season getting closer, gold demands will most likely rise higher. Most Indians purchase gold coins and gold items during the year-end festive season. This surge in demand happens because of auspicious dates which coincide with the festivals.
According to Live Mint, the overall gold imports increased from $33.6 billion in 2018-2019 to $48.8 billion in 2023-2024.
Dussehra and Diwali are one of the major Hindu festivals when Indians purchase a lot of gold. Purchasing gold during Dussehra and Diwali is considered lucky as it brings prosperity, wealth, and success.
Dasara festival is an important Hindu festival which marks the victory of good over evil. It is celebrated on the tenth day of Navratri and is also known as Vijayadashami.
‘Dussehra’ is derived from the Sanskrit words ‘dus’ meaning ten and ‘hara’ means ‘defeat’.
It is celebrated to commemorate Maa Durga’s triumph over the evil demon, Mahishasura and Lord Rama’s victory over Ravana.
Lord Rama, one of the most powerful lords in Hindu mythology, defeated Raavan who had abducted his wife, Goddess Sita.
Raavan was the king of Lanka (now called Sri Lanka) and was considered extremely intelligent.
However, his reign came to an end when Lord Rama approached his kingdom with his army to defeat him and free Goddess Sita from captivity.
Why is Dussehra the Best Time to Invest in Gold?
Dussehra is an auspicious Hindu festival. It is a great time to begin new projects and make new investments.
Apart from being a precious metal, Gold also holds a sentimental value for many Indians.
Many Indians purchase gold on important occasions such as weddings and festivals. It holds a cultural and historical significance among Indians.
In the 2024-25 budget, the Indian Finance Minister slashed the import duty on gold imports from 15% to 6%.
According to the Commerce Ministry’s Trade Data, the gold import increased by 221.41% in a month. This increment was a result of high festive demand and low import duty.
In 2022, the Economic Times reported that the demand for gold increased by 30% during Dussehra, compared to the previous year.
Purchasing or investing in gold is comparatively much safer than buying shares or stocks. Gold is not as deeply impacted by geopolitical climate, high inflation, or the world economy.
Being a tangible asset, gold is highly valued and builds trust among investors. However, with the latest digital trends, people can now invest in gold digitally.
Owning gold digitally is a great way to diversify your investment portfolio and save money on gold lockers.
You can purchase gold virtually through Gold ETFs, Digital Gold, or Sovereign Gold Bonds (SGBs).
Buying gold digitally eliminates a number of risks such as storage, theft, impurities, and making charges in case of purchasing gold jewellery.
Digital Gold is the latest addition to the virtual gold investment method, and investors can choose the amount of gold they want to purchase according to their financial capacity.
Users can invest in Digital Gold with minimal cost and have full access to their vault. It is stored in a digital vault at no extra cost.
You can sell your digital gold at any time or choose to convert it to physical gold. There is no broker or middleman involved when you purchase digital gold.
Invest in Digital Gold With Jar: India’s No.1 Gold-Saving App
Jar App is India’s most trusted gold-saving app with over 2 crore active users. It is an automated investment application that helps you to invest and save money in digital gold.
Our user-friendly app offers an easy and seamless method of saving digital gold in a virtual vault.
You can set up an autopay by linking your Google Pay, PhonePay, or Paytm wallets or choose an amount manually.
The Jar App invests your spare changes after each transaction into digital gold. You can also choose to invest a small amount daily, weekly, or monthly.
There’s no major cap amount required for you to start your digital gold investment journey.
Users can start saving in digital gold with as little as ₹ 10 daily. The app also allows users to track their investments and get updates about daily gold rates.
There’s no lock-in period for investing in digital gold, and you can withdraw your savings anytime to your bank account or convert them into physical gold.
Jar App is 100% safe for digital gold investment. The app is powered by SafeGold and all transactions take place over secured banking networks.
