Akshaya Tritiya 2020: Significance of its celebration, mythology and why Hindus buy gold on this auspicious day

Akshaya Tritiya is considered to be an auspicious occasion by Hindus and people often buy gold on this day in the hope that it will bring good luck. Akshaya Tritiya 2020 will be celebrated on 26 April. Also known as Akha Teej, Akshaya Tritiya is observed during Shukla Paksha Tritiya in the month of Vaishakha of the Hindu calendar. [caption id=“attachment_4362479” align=“alignleft” width=“380”] Representational image. Reuters[/caption] According to Hindu mythology, the day is also celebrated as the birth anniversary of Parashuram, an avatar of Lord Vishnu. The day of his birth also marked the beginning of Treta Yuga. Some beliefs also say that Goddess Ganga arrived on Earth from heaven on this day. Devotees worship Lord Vishnu, who is among the holy trinity of Hindu gods, on Akshaya Tritiya. Vishnu is regarded as the preserver in Hindu mythology. People also offer prayers to Goddess Annapoorna, the deity of food and nourishment. Significance of Akshaya Tritiya The word Akshaya means something that never diminishes. This is the reason why people buy gold on this day, believing it will never diminish and help them prosper. Various other events like marriage and holy thread ceremony take place on Akshaya Tritiya. Akshaya Tritiya timings Akshaya Tritita tithi began from 11.51 am on 25 April and will end at 01.22 pm on 26 April.  Puja muhurat on 26 April is from 05.44 am to 12.17 pm. The auspicious timing for purchasing gold on this day is between 6.13 am and 1.22 pm. Gold and Akshaya Tritiya and intrinsically linked but the demand for the precious metal has fallen because of record high prices and slowing growth. Most jewellery stores are closed due to coronavirus lockdown but they are counting on online purchases on Akshaya Tritiya 2020. According to estimates by ratings agency ICRA Ltd, the demand for gold during the festival usually is in the range of 20 tons to 25 tons.