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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.)

Navy doc treat injured Pakistani crew

Mumbai: In a humanitarian gesture, the Indian Navy (IN) rendered lifesaving medical assistance to save the life of a Pakistani crewman on an Iranian fishing vessel in the Arabian Sea, officials said.


The operation took place on Friday/Saturday around 350 nautical miles in the high seas off Oman coast, with the help of the stealth frigate INS Trikand.


On April 4, the INS Trikand monitored a distress call from the Omani vessel 'Al Omeedi' seeking help for a crew member, who was seriously injured with multiple fractures and blood loss.


Further enquiry revealed that the distressed crewman was working on the vessel's engine when he sustained the grievous injuries and was transferred to another Iran-bound dhow, 'FV Abdul Rehman Hanzia', in the vicinity.

On getting the SOS, INS Trikand immediately altered her course to rush medical assistance to the injured crew.


The 'FV Abdul Rehman Hanzia' has a contingent of 11 Pakistanis and 5 Iranians manning the vessel.


The Indian warship's medical officer along with a team of Marine Commandos boarded the FV.


Ob board, the MO started the three hour long medical procedures, controlling the blood flow, suturing and splinting of the crew's injured fingers.

It was a timely response which prevented the patient's total loss of the injured fingers due to gangrene.


The IN stealth warship also provided crucial medical supplies, antibiotics to the FV to ensure the injured crew's wellbeing till the dhow reaches Iran.


The entire crew of the dhow expressed their gratitude to the IN for rendering assistance on time that helped saving their injured mate's life, said the IN officials.

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