Diwali is one of the biggest festivals in India. The festival of lights is a time for family celebration and reverence to Lakshmi, the Hindu goddess of prosperity. Which is why investing in gold and silver and treating yourself or others to jewellery and gifts is an important part of the celebrations.
Gold is usually bought on Dhanteras, the first day of the festival of Diwali. It has great auspicious importance and people flock to jewellery stores to purchase shiny new biscuits, jewellery and coins. If you are looking to invest in gold or silver this Diwali, we cover everything you need to know to make a sound and satisfying purchase.
Buying Gold On Dhanteras
While gold is primarily considered the go-to choice for purchases during the festival of lights, the huge celebrations see a wide range of elaborate and extravagant purchases made. Besides gold, diamond and gemstone jewellery are also very popular choices. People also invest in gold and silver coins, silver utensils and silver idols to express hope for a prosperous year ahead.
Things to keep in mind before buying gold jewellery
1. Gold rates
The price of gold varies from one city to the next in India. This is because the costs of transportation, procurement and other factors will all differ depending on where you are buying the gold from. However, the price should not vary too much from the price on the MCX and NCDEX rates. Always check these indexes to make sure you aren’t paying a highly-inflated rate. Keep in mind that additional charges are factored in due to making charges.
2. Hallmark purity
Always ensure that the gold you buy has been hallmarked. This is a clear indication of the purity and composition of the jewel. For example, the hallmark will show the purity of the gold jewel either in karats, with the letter ‘K’ – 18K, 22K, 24K. Or it can have a number that represents the purity value in percentage form. This denotes the portion of gold the piece contains – 8 karat gold would be marked ‘333’, which means that there is 33.3% gold or one-third part gold in the jewel. The alloy used in the jewellery will also be marked – ‘PT’ for platinum, ‘SS’ for steel and ‘Pd’ for palladium. GF refers to the jewel being gold filled, whereas ‘GP’ means that the jewel is only gold plated. Read all about How To Buy Gold Jewellery before you go shopping.
3. Making charges
This refers to the cost of the labour involved in making the jewel and will vary according to craftsmanship, detail and finish. However, making charges can often be bargained down in most jewellery stores. Keep in mind that handcrafted jewellery has higher charges that machine-made, mass-produced jewels. Checking with the jeweller about the method by which the pieces have been made can help you choose gold with lower making charges.
Look out for special Diwali Offers. Often, big jewellery brands offer special discounts and free gifts during the festive season. Do your research and pick a brand which gives you the best value for money. Be sure to read the fine print and ask for the terms and conditions of the offers advertised as they can often be misleading.
Besides offers, you can also make use to the buyback option that many jewellers offer if you are the type to want new designs every few years but would rather not spend a lot of money. The jeweller may agree to buy back the jewellery at a later date, with the gold prices remaining the same. You will, however, lose money on making charges.
The rush to buy gold on Dhanteras can be overwhelming for some. Head to the stores early in the morning to not have to brace rush-hour shopping. If you have a favourite jeweller that you regularly go to, visit a few days ahead and narrow down your choices so that you can be in and out of the store with your purchase in the least time possible.
7. Jewellery Stores
India has millions of outlets selling jewellery – from big brands to small, family-run shops. Buying from larger, branded stores can protect you against purchasing impure jewellery. Go to a small store only if you are sure of its trustworthiness and have been going there for a long time or it is recommended by people you know and trust. To know all about the best brands, read our article on the top stores to buy jewellery in India.
The Best Diwali Offers
If you are looking to buy jewellery for the festive season, don’t head out to the stores without reading our list of the best Diwali offers from all the big brands.
1. Malabar Gold And Diamonds
- Beautiful Forever: 15%off on making charges. Flat 10% off on diamond charges.
- UTSAVA: Upto 25% off on making charges of Gold Jewellery and Diamond jewellery value.
- Joyalukkas Golden Offer Diwali: Free Gold Coin 200 mg. On purchase of jewellery worth Rs. 50,000 and above during Diwali days.SBI Card – Extra 5% Cashback*
- Diwali Online Exclusive Offer: Free Silver Pendant set of Rs. 1200 on every purchase of Jewellery worth Rs.10,000 and above.This is an online exclusive offer. In addition to above, if the purchase is above Rs.25,000, then the customers can avail an additional 5% Cash Back if they make the payment using SBI Credit Card.
- Joyalukkas Giftfull Diwali: Guaranteed gift with every purchase, Free Home Appliances. SBI Card – Extra 5% Cashback*
4. PC Jewellers
- START OF SEASON SALE: Upto 30% off on Diamond Jewellery, Making charges of Gold Jewellery, Silver Jewellery and Articles.
5. Senco Gold And Diamonds
- Divine Festival Bonanza: Buy any product of Divine Solitaires and win exciting prizes.
- Festive Diwali Offer: Rs. 75,000/- off, offer on purchase of ALL Diamond Jewellery, Flat 25% off on making charges of Gold Jewellery.
- HOT Deals just for you: Up to 20% off on Selected Diamond Jewellery.
7. Carat Lane
- #THESPARKLEWITHIN: Flat 30% off on diamond prices, up to 50% off on making charges.
- SPARKLE SALE: upto 20% off on making charges on Gold & Gemstone Jewellery, 0% making charge on Diamond Jewellery, 5% Additional Discount on purchase of Rs.50,000 and above.
9. Velvet Case
- DIWALI WITH VELVETCASE: Free Gold Coin- Shop worth Rs.25,000
- BIG BLOCKBUSTER SALE: Upto 80% off
- MAHA DHAMAKA SALE: Flat 50% off, Diwali Maha Dhamaka Offer: Shop for Rs.2000 & stand a chance to win iPHONE X
- GET FESTIVE READY Grab the spotlight: 50% off on making charges on Festive Jewellery
- BUDGET WALI DIWALI: Extra 18% off on Diamond Jewellery and Making charges starts from Rs.349 on Gold Jewellery.
- FESTIVE SEASON OFFER: Free silver coin on every purchase of Rs.5000, Flat 15% off on baahubali collection.
*Terms and Conditions apply
Why Is It Auspicious To Buy Gold On Dhanteras?
There is an old legend from which this belief has been passed down through the ages. According to the tale, King Hima’s 16-year-old son was cursed to die soon after his wedding – on the 4th-day post the union. In order to keep her husband well and out of danger, the prince’s wife suggested that he not sleep on this day. She then brought all the gold jewellery, ornaments and coins she could find and placed them as a barrier in front of the door to her husband’s room. In addition to this, she lit a plethora of lamps all through their home and then went back to her prince and kept him awake with songs and stories.
When the god of death, Lord Yamraj, came to capture the price’s soul, he was blinded by the dazzling reflections of all the gold that was stacked up yourself the door and was unable to get through it. He was on top of this pile when he overhead the songs and stories told by the prince’s wife and, when the dawn broke, he left without the prince’s soul, allowing him to live.
This is why, on Dhanteras, it is tradition to keep the home lit up with diyas and lamps all through the night. It’s also why buying gold is such a popular aspect of celebrating this day. And because it is often celebrated one day prior to Lakshmi Puja, it is believed that Goddess Lakshmi gives her blessings generously to her devotees who welcome her by buying expensive new purchases or gold.
The third reason of auspicious significance is the fact that the god of wealth, Lord Kubera, is also celebrated on Dhanteras. Devotees often do Kubera-Lakshmi Puja on this day and it is said that buying gold is an omen of good luck and blessings. This is why jewellery and coins bought on this day are often decorated with pictures of Lakshmi or Ganesha on them.
Choosing The Perfect Diwali Jewellery Gifts
Whether you are looking for a gift for your wife, sister, mom or friend, taking a close look at their present style of jewels can help you choose something that will go with their personal sense of fashion and taste. Ask questions like:
- Does she love big statement jewellery or small, delicates pieces?
- Is yellow or white gold her colour of choice?
- Is she in love with diamonds or likes colourful gems instead?
- Or perhaps she wears jewellery that isn’t embellished in stones at all?
- Does her professional life allow bold or subtle jewellery?
- Are her social life and party wardrobe suited to more traditional or modern styles?
Whatever it is, look at her everyday and party wear before you head out to the stores.
Top Diwali Trends For 2018
1. Kundan Jewellery
Handcrafted jewellery is all the rage this Diwali. The traditional styles of Kundan jewellery, where the pieces are set with glass, looks beautiful with Indian outfits.
2. Polki Jewellery
Polki jewellery, which uses the same methods of craftsmanship, instead embeds uncut diamonds into the jewel instead, making it an even more extravagant choice for the festive season.
3. Jadau Jewellery
Jadau jewellery also uses the uncut diamonds, which are referred to as Polki. It also uses Meenakari (jewellery that is crafted using enamelling) and Kundan techniques.
4. Temple Jewellery
Inspired by mythological gods and goddesses, it’s no wonder that Temple Jewellery is a favourite during the festival of lights. Temple jewellery has intricate designs and looks edgy yet ethnic. It pairs well with traditional as well as fusion outfits. If you are looking to buy temple jewellery, read our guide on South Indian Jewellery to ensure you get the most out of your purchase.