top of page

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.)

New Frontlines of Tradition and Change

Updated: Nov 7, 2024

Frontlines

The Buldhana and Akola Assembly constituencies in Maharashtra’s Western Vidarbha, traditionally bastions of the ruling Shiv Sena and the BJP, could now see new battles in the upcoming Assembly election.


The November polls promise to test the resilience of Vanchit Bahujan Aghadi (VBA) under Prakash Ambedkar in Akola, and the influence of caste and communal dynamics in these economically struggling districts. Though Akola has been a BJP bastion, Prime Minister is set to hold one of the first rallies (November 9) in this poll here, indicating the saffron party needs heavyweight support in the district.

Frontlines

Akola has been a BJP stronghold since 2004 with the party’s ideological base shaped by the early days of the Ram Mandir movement. The recent Lok Sabha poll showed the ruling party navigate the choppy waters by replacing their longtime leader in Akola, Sanjay Dhotre, with his son and thus avert a potential electoral setback.


In Buldhana, the undivided Shiv Sena has held sway since the 1990s by riding on the appeal of the late Sena founder Bal Thackeray’s firebrand oratory that captivated the Bahujan and OBC youth, wowing them away from the Congress. However, the district has also historically been a challenging place for women candidates within Shiv Sena ranks.


After the 2022 split in the Sena ranks, this year, Uddhav Thackeray’s opposition Sena (UBT) faction is breaking tradition by nominating Jayashree Shelke, a former Congress leader, as the MVA candidate for the Buldhana Assembly seat.


This marks the first time the Sena (divided or otherwise) has fielded a woman candidate in a major election here. Shelke’s candidacy signifies an attempt to both reach disenchanted Congress supporters and potentially set a historic milestone as the district’s first female MLA, should she succeed.

Yet her road to victory is far from smooth. She faces Sanjay Gaikwad of the rival Shiv Sena, a local figure whose record of controversial statements reflects the abrasive brand of Shiv Sena politics that has resonated with a segment of Buldhana’s electorate.


Meanwhile, the VBA, under Ambedkar’s leadership, continues to exert a disruptive influence across constituencies in Akola, where Ambedkar had been an MP in past decades. Though the VBA came a cropper in the 2024 Lok Sabha, with its vote share drastically plummeting, it still retains the capacity to queer the pitch.


In the 2019 Assembly elections, the VBA’s alliance with the All India Majlis-e-Ittehadul Muslimeen (AIMIM) splintered votes across a number of seats, denying the Congress-NCP-Shiv Sena alliance (the MVA) several victories in key constituencies. In this year’s Lok Sabha election, the VBA failed to repeat its act. And yet, it cut into the opposition MVA’s votes in the Akola and Buldhana Lok Sabha seats, where the votes polled by the VBA’s candidates sealed the fates of the MVA contestants.


Ambedkar, recovering from recent health issues, has claimed that the OBCs – traditionally BJP’s core base in the state – will not vote saffron; his proclamations come amid his efforts to stitch a coalition of OBCs, SCs and STs. Yet, the strength of the VBA’s grassroots support will determine in this election whether the party will retain its status as a spoiler or whether the time has come to write Ambedkar’s political obituary.

Comments

bottom of page