Akshaya Tritiya is an auspicious Hindu festival celebrated across India on shukla paksha tritiya of the Vaishnava month. The festival associated with buying silver and gold falls on May 3 this year. The ‘mahurat’ will begin at 5:39 am on May 3 and end at 5:38 am on May 4.
This day is usually celebrated by businesses and business households and often people wait for Akshaya Tritiya to begin new business ventures or embark on a new project.
To understand why people mark Akshaya Tritiya celebrations by buying gold and silver one must look at the etymology of the words – the Sanskrit word ‘Akshaya’ means ‘forever’ and ‘Tritiya’ means ‘third’. It is believed if one purchases something on Akshaya Tritiya, the item stays with them forever, as the day is considered to be a harbinger of good luck and wealth. Further, some people believe that buying metals on this day helps welcome Goddess Lakshmi to their household.
An anecdote also follows Akshaya Tritiya celebrations -- this one is related to the Indian epic Mahabharata. As per mythology, Lord Krishna had once paid a sudden visit to the Pandavas when they were in exile. At the time, Draupadi, the wife to the Pandavas could not offer him a decent meal, leaving the clan embarrassed. However, pleased by their hospitality, Lord Krishna had gifted them the Akshaya Patra – a vessel that would provide endless food supply to the family.
Hence, people believe that if one buys gold on Akshaya Tritiya also they will be blessed with boundless fortune.