Diwali - Gold and Silver Shimmer in a Festival of Lights

Author: Juliana Chard - Chief Numismatist

Published: 29 Oct 2016

Last Updated: 2 Feb 2023

Contents: The Significance of Diwali

Contents: Day 1

Contents: Day 2

Contents: Day 3

Contents: Day 4

Contents: Day 5

Contents: India- The 2nd Largest Market for Gold

Synopsis

Diwali, also known as the festival of lights, is celebrated by Hindus based all over the world. Published - October 2016.

Diwali, also known as The Festival of Lights, is celebrated by Hindus based all over the world. It is regarded as one of the most important festive days in the year and is a national holiday in India. As it is calculated according to the lunar Hindu calendar, it falls on different days every year.

The Significance of Diwali

It is a 5 day celebration and each of those days have special significance:

Day 1

Dhanteras traditionally celebrated in the North-Western part of India and signifies the beginning of the financial year within households and businesses. It is seen as a fresh and optimistic start for the new year as houses and business premises are thoroughly cleaned, renovated and decorated. Dhanteras is perceived as one of the busiest days for shopping of gold and silver items as highly auspicious elements as any investment made on this day is said to bring good luck.

Day 2

Naraka Chaturdasi involves early morning religious rituals and festivities later in the night.

Day 3

Diwali The main festive day and the time for celebration where people dress up in their best outfits. Families are involved in prayers during the evening, mainly to Goddess Lakshmi – the bringer of wealth and prosperity and Lord Ganesha (elephant God) – the remover of obstacles, provider of prosperity, fortune and success. The day culminates in celebratory fireworks, visiting family and friends and exchanging gifts and sweets. Lots of small oil lamps are lit and placed around the house as a belief that goddess Lakshmi will visit the household and bring with her wealth and prosperity.

Day 4

Padwa is a ritual that celebrates the love and mutual devotion between the wife and husband.

Day 5

Bhai Dooj celebrates the brother sister relationship.

India- The 2nd Largest Market for Gold

India is currently the 2^nd largest consumer of gold in the world. In India, it is more than an investment and is widely regarded as a culturally significant metal.

Religious connotations Integral part of religious ceremonies as a prominent asset.
Family Heirloom Part of every household in the form of jewellery, ornaments, coins etc to be passed on generation to generation as a cherished heirloom.
Investment metal Seen as the safest investment and provides protection during bad financial times and for a secure future due to its stability in the market.
Status symbol Gold and silver are seen as a status symbol of wealth and prosperity in social settings. The more gold one possesses, the more power he/she is said to possess.

If you, or someone you know, will be celebrating Diwali, have a look at our wide range of gold and silver coins and bars which would be ideal as a gift.