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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

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...

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 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.)

Clear all roads within 24 hours: HC to govt

Mumbai: Taking strong note of the massive disruptions to normal life in the city, the Bombay High Court directed the government to clear off Maratha activists - led by Shivba Sanghatana President Manoj Jarange-Patil - who have laid siege to all roads in south Mumbai by Tuesday afternoon.


Conducting a special hearing to a bunch of petitions filed by the Army Foundation and others today, a division bench comprising Justice Ravindra Ghuge and Justice Gautam Ankhad, noted that the Maratha pro-quota protesters have not remained at Azad Maidan - the designated place for the agitation - but blocked several vital areas in south Mumbai.


The state Advocate-General Birendra Saraf, lawyers of the petitioners and the Marathas as well as intervenors were present in full strength before the HC, and after hearing all sides, the court listed a series of directions to both sides voicing concerns over dislocations caused in Mumbai.


These included a go-ahead to the administration to initiate legal action as the protests lack official approval and directing the concerned authorities to prevent more Marathas from entering the city.


Terming the situation as “grim, with entire Mumbai practically at a standstill”, the judges said that the agitation was not peaceful, Jarange-Patil and others had flouted all conditions imposed by the administration when they were granted permission for the peaceful protest at Azad Maidan.


The judges also directed the authorities to immediately clear off and clean up all the roads near the Chhatrapati Shivaji Maharaj Terminus, Fort, Marine Drive, Churchgate and other parts and to restrict the protestors within the Azad Maidan itself, while posting the matter for hearing on Tuesday at 3 pm.


Questioning the government on how educational institutions and supply of essentials like milk and vegetables could continue if the protests continued, the judges noted with concern how even the high court proceedings were directly hit by the agitation as the entry routes of judges were also blocked.


Justice Ghuge and Justice Ankhad emphatically told Jarange-Patil’s lawyers that “no more than 5000 protestors could remain in the city”, asked whether they would adhere to the court’s earlier orders (August 26) and also if they would issue a media statement asking all excess demonstrators to leave Mumbai, while asking the government to provide medical aid to Jarange-Patil and food plus other amenities to the protestors.


The court’s rap occurred on the fourth day of the massive Maratha agitation spearheaded by Jarange-Patil that kicked off in Mumbai from Aug. 28 at Azad Maidan, with the state government saying it had not given permission for it.


After viewing the videos and photos of the situation with massive Maratha crowds hanging around, the jammed roads and railway stations, dancing, bathing, cooking and defecating in open places, causing massive inconvenience to the people, the judges sought their cooperation and stressed on the need to restore normalcy, especially with the upcoming Anant Chaturdashi - the Ganesh visarjan ceremonies on September 6.


Out of hand

The judges told the lawyers of Maratha groups that the agitation had gone “out of hand”, with a warning that Mumbai cannot become a hostage due to choked roads, questioning the government’s move on granting the protest permissions.


Noting media reports with Jarange-Patil threatening a fast-unto-death after going off water since Monday, vowing not to leave Mumbai till his demands for 10 pc reservations are conceded from the OBC category, the court said that the organizers had lost control over their activists.


From the Jarange-Patil side, advocates Shriram Pingle, Ramesh Dubey-Patil, and Vaibhav Kadam were present besides others from the petitioners and intervenors.


"Follow the high court's orders. Don't trouble Mumbaikars. Don't roam on streets, park vehicles in designated areas. Those who don't want to listen to me can return to their villages. Our people don't misbehave with journalists and indulge in hooliganism. I don't want the aspersions to be cast on my caste. I am going through a lot of pain and suffering for you and your children. If you behave in such a manner, then what's the use (of the agitation)?"

Manoj Jarange

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