The Human Cost of Gold | National Geographic Magazine: Auspicious Gold Buying Day | Akshaya Tritiya | Chennai, India

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Auspicious Gold Buying Day | Akshaya Tritiya | Chennai, India

Akshaya Tritiya is one of the four most auspicious days of the year for Hindus. The word Akshaya, a Sanskrit word, literally means one that never diminishes,

Joyalukkas Jewelry Store is one of the largest in the world and all Indians that can afford it buy gold on Akshaya Tritiya, the auspicious day for purchasing gold. Gold is an important part of the Hindu scriptures, the basis for Akshaya Tritiya.  But everyone in India also buys gold because the rural banking system was not good and taxation was high. The real surge comes from the country’s burgeoning middle class, which has tripled in size over the past 20 years, to 300 million people, but not in sophistication in terms of investments.