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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.)

‘My father has been shot dead’

Dombivli resident Atul Marathe shares what he went through when his nephew informed him of the attack on the night of the attack


Atul Marathe
Atul Marathe

Mumbai: Little did he know when his mobile phone rang at 10 pm on Tuesday April 22 that he will hear something that is beyond his imagination. Dombivli resident Atul Marathe received a call from his 21-year-old nephew Harshal Lele called him and said, “My father has been shot dead.” Speaking to The Perfect Voice, Marathe said, “On Tuesday evening, as soon as I heard about the news, I tried contacting everyone to find out if everyone was safe. Harshal in the first told me that all were safe. Later in the night he called me and told me that my maternal cousin Hemant Joshi, my brother-in-law Sanjay Lele and my friend Atul Mone were no more.”


Sanjay Lele
Sanjay Lele

Hemant Joshi, Sanjay Lele (44) and Atul Mone (52), all hailing from different areas of Dombivli city in Maharashtra's Thane district, were among the 26 persons killed as terrorists struck a prime tourist location of Pahalgam in south Kashmir on Tuesday. The three of them were closely related to Atul Marathe said, “Harsha shared horrible account of the attack. They were enjoying their outing at Baisaran meadows. They were eating, having fun. All the three families knew each other personally. Suddenly a group of men looking like terrorists came running from the forest area and fired in the air first. Everyone started running here and there out of panic.”


Marathe further said, “Tourists were completely blank, and had no time to think. Suddenly the terrorists appeared at a distance of 100 metres from the eatery and they could feel death approaching. Harshal said cruel is a small word to describe what transpired. They systematically asked those present at the spot to segregate themselves as Muslims and Hindus. When Hindus separated themselves from others, they just shot at them from close range. Muslims were spared. Harshal said that they had planned intentions to kill only the men. They asked the women and the children to lie down on the ground.”


“My cousin Hemant Joshi was shot in his chest, my brother-in-law Sanjay Lele was shot in his head, my friend Atul Mone was shot in his stomach,” says Marathe.


Since the location is inaccessible to the Pahalgam town, although they received help from the horse guiders and the locals to head back to the town it was very difficult for the tourists to trust them says Marathe.


He said, “Harshal told us that all the pony guides told us to start running towards the town to ensure safety. Locals were helpful. However, Harshal said that they were so scared that they had trust issues. Since all were Muslims, they didn’t know if those offering help could be trusted. They walked for five hours  had to depend on unknown locals for being escorted to the town safely.


Dombivli observes bandh

Thane: Commercial establishments were shut and vehicles remained off roads in Dombivli town on Thursday as residents observed a spontaneous bandh to protest against the terror attack in Jammu and Kashmir's Pahalgam town.


Three cousins - Sanjay Lele (50), Hemant Joshi (45) and Atul Mone (43) - hailing from Dombivli in Thane district were among the 26 persons killed in the ghastly terror attack on Tuesday.


The streets of the town, which would be bustling with hectic activities on any other day, wore a deserted look on Thursday.


Most of the auto-rickshaws, buses as well as private vehicles remained off roads while majority of the commercial establishments were closed.


Small groups of people were seen at the corners of some streets and roads in the town, with conversations revolving around the Pahalgam tragedy and the loss of lives, including three persons from Dombivli who were their families' breadwinners.


Earlier, various shops, offices and local markets started closing from Wednesday afternoon as a mark of protest against the terror attack and to express solidarity with families of the victims.

The bandh, supported by all major political parties and civil groups, was observed voluntarily by the public.


Thousands of people on Wednesday evening attended the last rites of the three Dombivli residents after their bodies were flown to Mumbai earlier in the day.


Maharashtra Chief Minister Devendra Fadnavis, accompanied by BJP leader Ravindra Chavan and local Shiv Sena MP Shrikant Shinde, visited the Bhagshala ground to pay the last respects to the deceased.

Angry slogans against Pakistan were raised as Fadnavis paid floral tributes, with many people demanding a total ban on all Pakistani products. 

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