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Diwali: the Indian festival and Gold

Published by kirke in category Tavex News on 16.10.2019
Gold price (XAU-SEK)
14 118,20 SEK/oz
  
- 55,20 SEK
Silver price (XAG-SEK)
163,47 SEK/oz
  
+ 0,19 SEK

Different countries in the world have different shopping and investment cycles which are usually centred around annual festivals: usually Christmas in most western countries, the lunar new year in China and Diwali, the festival of lights, in India!

India is one of the largest markets for gold and the growing income of the middle class further increases this demand for gold. As per the World Gold Council, gold has a central role in Indian culture, where it is considered a store of value, a symbol of status as well as wealth and a significant part of many celebrations like weddings and Diwali.

Diwali or Deepawali, is a five-day festival celebrated in India in Autumn, generally in October or November, depending on the lunar calendar. Diwali in 2019 falls from October 25 to October 29. *

Diwali is a five-day festival, with the main celebrations generally on the third day, known as Amavasya. The first day, known as Dhanteras, marks the beginning of the festival of Diwali and is a major day to buy gold and silver, jewellery, household equipment etc.

Diwali is also known as “the festival of lights” and is one of the largest and most popular festivals in India, comparable to Christmas in the West. Diwali is a time for shopping for gift giving and is quite similar to the Christmas period in terms of retail shopping, purchases and economical activity. It is traditionally a period when households and families make bigger purchase such as home appliances, vehicles, gifts, gold and jewellery.

Diwali is a considered as a celebration of triumph of the good over evil, light over darkness and knowledge over ignorance.

India is the second largest gold buyer after China. India is also the country with the second highest population and as such, an increase in Indian gold demand usually affects the global demand as well as the prices of gold and silver. The importance of gold in India and the inherent trust in gold as a store of value is an integral part of Indian culture.

Gold is indeed a way to diversify risk: a hedge against not only financial risks but also political risks. In times of negative interest rates, when certain institutions in the Nordics have already started charging their customers for deposits, Tavex strongly recommends you to diversify your portfolio and invest in gold as a long-term investment. Gold price in SEK has increased by more than 30% in the last 3 years, more than 65% in the last 5 years and by more than 85% in the last 10 years!** It is an investment method which has truly survived the test of time. The actual gold and silver prices historically can be found here: https://tavex.se/aktuella-guld-och-silverdiagram/

Tavex team wishes a Happy and Prosperous Diwali to all of our patrons. As a special offer, Tavex is now selling gold and silver coins and bars with free delivery offer which you can avail by typing in the code: DIWALI, when you check out from our webpage!

You are also welcome to shop at any of our 4 offices in Stockholm or to get a free consultation with our gold experts! Book your consultation today by calling us on 086782030 or email us tavex@tavex.se

We speak your language! Besides Swedish and English, we also offer consultations in Indian languages like Hindi, Tamil and Marathi. 

Happy Diwali!

*dates may vary in different regions of the country
** as of 2019-09-25 at 12:00

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