Bullion Exchanges wishes a happy Diwali to all who celebrate as we enter the holiday season this October. Also spelled Divali, Deepavali, or Dipavali in various parts of the world, English speakers know Diwali as the Festival of Lights. Hindus, Jains, Sikhs, and some Buddhists celebrate it annually on the darkest day of the Hindu calendar month Kartika. In terms of economic activity and gift giving, Diwali is comparable to Christmas in the Western world. It is also one of the biggest drivers of demand in the gold industry.
“Hindu cultures associate the festival with Lakshmi, the goddess of wealth and prosperity”
Experts theorize that Diwali began as a fusion between many different harvest festivals in ancient India. This means that many religions celebrate Diwali, and that it has different significance to each. However, many Hindu cultures associate the festival with Lakshmi, the goddess of wealth and prosperity. Similarly, millions of Sikhs visit Amritsar’s Golden temple, which is literally plated with gold, to celebrate Diwali every year. This makes gold a popular Diwali gift for many families.
On the first day of Diwali, called Dhanteras, celebrants often begin their holiday by buying gold. Tradition states that buying gold on Dhanteras will bring more wealth to the family in the coming year. Jeweler sales, in turn, increase about 20-30% during this period. To help put that into perspective, more than 800 million participants in India alone celebrate Diwali every year, and over 20,000 metric tons of gold are currently held in Indian homes and temples.
“Tradition states that buying gold on Dhanteras will bring more wealth to the family in the coming year”
On top of all that, India imports almost all of its gold. Bullion Exchanges wants to do our part this Diwali by offering you gold at the lowest margins available for your gift-giving and celebration needs. PAMP Suisse’s gold bars were among our best sellers for Diwali last year, and we are excited to offer this renowned Swiss mint’s beautiful bars to you again in 2019. We currently carry Lady Fortuna gold, Lunar gold, Religious gold, and generic gold designs from PAMP, in sizes ranging from 1 gram to 5 grams, 10 grams, 20 grams, 1 oz, 5 oz, 10 oz, and more. As the Roman personification of luck and fortune, the Lady Fortuna series is among our most popular Diwali sellers. It features a beautiful design on the obverse of Fortuna wearing a blindfold and offering a cornucopia.
Let Bullion Exchanges join you in celebrating Diwali this year by buying your gifts from our wide selection of gold, available at the lowest possible margins from spot.