Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

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As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk. So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Ashok Chavan: A Rocky Road Ahead

Abhijit Joshi
Oct 20, 2024
2 min read

Updated: Oct 21, 2024

The Congress party has been fortunate in Maharashtra, where political families like the Thorats, Shindes, and Gaikwads have remained loyal over the years. However, after the 2014 Modi wave, a few Congress loyalists such as the Vikhes and Deors gradually drifted towards the BJP or other factions. Despite this, the Chavan family from Nanded, known for their unwavering loyalty to the Gandhi family, stayed with Congress through thick and thin. Ashok Chavan, in particular, was a trusted leader within the party.

But things took a turn when the fear of ED investigations allegedly caused Ashok Chavan to switch sides to the BJP. While everyone knows this chapter of history, the bigger question now is: What lies ahead for Ashok Chavan?

The upcoming state elections will be a true test for Ashok Chavan. His internal and external battles are intensifying, especially with Ravindra Vasantrao Chavan contesting the Nanded Lok Sabha bypoll after his father’s death. The situation became more complicated when Chavan’s brother-in-law, former Nanded MP Bhaskarrao Patil-Khatgaonkar, along with ex-MLA Omprakash Pokarna and Minal

Patil-Khatgaonkar, rejoined Congress after initially following Chavan to the BJP. After his resignation from Congress, Ashok Chavan was expected to bring political acumen and influence to the BJP. But so far, it hasn’t worked out. He couldn’t secure a win for BJP in Nanded, a seat that was once seen as a sure victory for the party. This failure was a major setback, especially when BJP’s leadership was unsure about other victories in the state during the Lok Sabha elections.

Chavan’s second challenge came when he failed to manage the Maratha reservation agitation led by activist Manoj Jarange-Patil. As a Maratha leader, Chavan was expected to mediate and calm the situation, but he was unable to do so, leaving the state BJP leadership dissatisfied.

To make matters worse, Chavan has not made any significant impact within Congress either. In fact, his own brother-in-law, Bhaskarrao Patil-Khatgaonkar, returned to Congress, signaling Chavan’s diminishing influence even among his closest allies.

Chavan’s future in BJP looks uncertain. His daughter, who has been involved in social work, is also eyeing the upcoming state elections. But whether her efforts will translate into political success remains to be seen.

1 Comment

Pramod Sawant

Oct 21, 2024

Perfect analysis.