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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.)

Youth dies in Bhiwandi pothole crash

Bhiwandi: A tragic accident on the Bhiwandi-Kalyan road has claimed the life of a 19-year-old college student due to poor road conditions. Raj Niranjan Singh, a B.Com student and the only son in his family, died on the spot near Saibaba Mandir in the Temghar area early Thursday morning. The accident was caused by an uneven road surface and potholes, leading to the two-wheeler skidding and Singh being run over by a container truck.

 

Raj Singh was riding home with a friend on a two-wheeler when the vehicle lost balance due to a pothole. Both fell onto the road, and a container truck approaching from behind ran over Raj, killing him instantly. His friend, who was riding pillion, survived the accident. A case has been registered at the Shantinagar Police Station, and the driver of the container truck has been booked.

 

The condition of roads in Bhiwandi both in urban and rural areas continues to worsen, posing serious risks to commuters. Uneven surfaces caused by concrete patches and paver blocks, along with large potholes, have made travel dangerous, particularly for two-wheeler riders. This year alone, six lives have been lost in similar incidents caused by potholes in the Bhiwandi region.

 

Following the incident, Raj’s family and local residents have expressed deep grief and anger. “How many more lives will it take for the administration to wake up?” questioned Raj’s family in anguish. His father, Niranjan Singh, said, “My son died because of a pothole. Just look at the condition of that road. If there was no pothole, my son would still be alive today. He was my only child. What are we supposed to do now?”

 

Senior Police Inspector Vinayak Gaikwad confirmed the details of the accident and stated that a thorough investigation is underway.

 

The tragic death of the young student has sparked outrage in the community, with residents demanding urgent and permanent solutions to the worsening road conditions and traffic issues in the city.

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