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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.)

People praise Army for protecting

Jammu and Kashmir Chief Minister Omar Abdullah interacts with displaced border residents at a shelter camp.
Jammu and Kashmir Chief Minister Omar Abdullah interacts with displaced border residents at a shelter camp.

Garkhal (J&K): Men and machines of the armed forces worked meticulously to ensure the interception of Kamikaze drones and missiles fired by Pakistani troops targeting Jammu, drawing widespread appreciation from people.


India on Thursday night swiftly thwarted Pakistan's fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 locations across the country's northern and western regions, amid a military conflict between the two neighbours.


Looking after the operational area of Jammu under the command of the 9 Corps, the 26 Infantry Division, nicknamed the "Tiger Division", had put in place a robust air-defence system, virtually carving out an Israel-type Iron Dome to protect Jammu from a Hamas-style attack by Pakistan.


An official who was privy to the developments said it was a meticulous combination of men and machines in defence that thwarted such a massive Pakistani attack.


In the dead of night, Pakistan unleashed its most audacious assault on Jammu since the 1971 war, deploying a swarm of more than a hundred Kamikaze drones and missiles in a sinister attempt to devastate the city. But what followed was a show of unmatched precision, courage and resilience.


"We are indebted to our armed forces who have saved Jammu from a major attack by Pakistan. We appreciate them for their missionary work. We never thought these bombs could be neutralised in the air," Garkhal resident Sikender Singh said.


Singh, whose family, along with more than 500 villagers, has shifted to safer camps set up by the government in Mishriwala on the Jammu outskirts, said had the bombs not been intercepted, they could have caused massive deaths and destruction.


Finest system

The Army, backed by one of the world's finest air-defence systems, intercepted the aerial barrage with astonishing accuracy -- virtually every hostile object was destroyed mid-air. Not a single vital installation was touched. Not a single civilian life was lost.


"Eight missiles from Pakistan were directed at Satwari, Samba, R S Pura and Arnia. All were intercepted and blocked by air-defence units. Visuals over Jammu reminded exactly of a Hamas-style attack on Israel, like multiple cheap rockets," an Army official said.


He said the Pakistan Army is operating and behaving like Hamas. "Drones were sighted at multiple places along the western front -- confirmed to be hostile. They are being effectively engaged by our air-defence systems. Pakistani drone attacks have been reported at various locations along the western borders and are being effectively countered by the Indian armed forces," he added.


The multi-tier air-defence system, with a twin technological security architecture of Russian and Israeli surface-to-air missile setups and the indigenous Akash, was a game changer against such attacks.


Former Jammu and Kashmir director general of police S P Vaid appreciated the armed forces and their technological security systems for effectively dealing with the Pakistani attacks.


He said 50 to 60 air attacks by Pakistan over Jammu and other places were neutralised on Thursday night by the impregnable air-defence system of the country.


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