It is no secret that India is a significant buyer in the global gold market. And nearing Diwali is where the buying picks up pace there. This is because the period leading to Diwali is considered an auspicious time to buy gold and jewellery, especially the days leading up to Dhanteras – the first day of Diwali.

Diwali usually happens on the New Moon in early Autumn, which is said to be the darkest night in the Hindu lunar calendar. Homes are cleaned and lit up to welcome Dhanvantari, the god of health, and Lakshmi, the goddess of wealth and prosperity.

The buying of gold or other jewellery is to usher in more wealth as Dhanteras is often associated with good luck and positivity.