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Puthandu Vazthukal

April 14, 2013 Leave a comment

wealthymatters

The Tamil New Year follows the Nirayanam vernal equinox and generally falls on 14 April of the Gregorian year.The day is Chithirai 1 as per the Tamil calender.

Every year,starting on this day, in the temple city of Madurai, the Chitterai Thiruvizha is celebrated in the Meenakshiamman Temple. A huge exhibition is held here, called Chitterai Porutkaatchi.

This day is celebrated with neem flowers and raw mangoes to symbolize growth and prosperity and people greet each other by saying ‘Puthandu Vazthukal’.

Sri Lankan Tamils observe the day with the first financial transaction known as the ‘Kai-vishesham’ where elders gift money to the unmarried young, particularly children as a token of good luck. The day is also observed with the ‘arpudu’ or the first ploughing of the ground to prepare for the new agricultural cycle. The ‘punya-kaalam’ or auspicious time when the sun reportedly shifts from Meena raasi to Mesha raasi is considered ideal to commence new activities on a favorable note.

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Bidding For The Lord’s Treasures

April 13, 2013 Leave a comment

wealthymatters Here is some news of interest to all devotees of Lord Venkateswara and bullion lovers in general:

The Tirumala Tirupati Devasthanams is planning on e-auctioning the gold and silver ornaments from its hundis in collaboration with MSTC. It has already sorted the first lot of gold and silver jewellery for e-auction, got MMTC India to certify its purity, and has formed a committee of IAS and IPS officers to fix the floor price. The first e-auction is expected to rake in Rs 15 crore.

For each transaction, MSTC is to earn a service charge of 2-2.5% of sales.

If you are interested,watch the TTD and MSTC website.

Filed under Precious Metals Tagged with e-auction of gold ornaments, Investing in Gold Jewellery, Investing in silver jewellery, MMTC India, MSTC, postaday, Tirumala Tirupati Devasthanams, Tirupati Balaji

Zaveri Bazaar Gossip

April 13, 2013 2 Comments

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If you believe that there is something to be gained to by keeping your ears open to bazaar gossip,here is the on-dit in Mumbai’s wholesale gold market:

The international slowdown in gold prices has hit India in a significant way. Investors are disappointed and look to sell at the earliest opportunity.The current scenario does not make for a buyer’s market. People are waiting for prices to drop further. The sale of exchange-traded funds (ETFs) and short-selling by investors has contributed to the decline.

A correction was in order given the astronomical rise in bullion over the past few years.Its the same for silver as well. This could be good news for retail buyers with the wedding season coming up in May.

May 13 is Akshay Tritiya, which may witness a drop in sales. The prospect of a free fall in prices will prompt buyers to defer non-essential purchases until Dhanteras, when prices could be even lower at round 22000-23000 Rupees per 10 grams.

Certainly,going by the subdued responses to the Siddhivinayak Mandir‘s gold auction for drought relief on the 11th i.e, Gudi Padwa, there is reason to be cautious.Small buyers were on a strict budget and the devotees who regularly make the big purchases were uninterested and absent.

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Wealth And Mental Satisfaction

April 8, 2013 Leave a comment

Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough. -Oprah Winfrey