On the Day of the God of Wealth, to buy gold smoothly and successfully, you should pay attention to the following points.
Things to Know When Buying Gold on the Day of the God of Wealth
According to popular belief, the God of Wealth is a heavenly deity responsible for Wealth, Fortune, Prosperity, and Nobility, bringing fortune, abundance, and good luck. Offering prayers to the God of Wealth and buying gold on this day is believed to bring luck to the family for the entire year, ensuring smooth business operations.
With this belief in mind, every year on this day, many people, especially those in business, line up from early morning to buy gold for savings. However, to ensure a smooth buying process, there are important points to keep in mind.
1. Buy for luck, not for hoarding
You should not have a mindset of hoarding gold on this day. (Image source: thebank).
The Day of the God of Wealth, based on folk beliefs, is highly trusted by many people, and even shops promote and advertise heavily to boost sales at the beginning of the year. Therefore, the price of gold on this day can be driven very high but may quickly drop afterward.
For this reason, you should not have the mindset of hoarding gold on this day. It is advisable to aim for purchasing 1-2 taels just for good luck and joy. Avoid buying in large quantities, as it may result in losses when gold prices sharply decline.
2. Choose the right type of gold to preserve its value
When buying gold, it’s crucial to choose the right type that will maintain its value when resold later. Currently, the market offers a variety of God of Wealth gold products, including gold bars, rings, bracelets, and statues of the God of Wealth. However, it is recommended to buy plain round rings weighing between 0.5 to 2 taels and to choose those that are made with the pressed method. Plain round rings without this method may be difficult to verify in quality. For gold bars, they must have a serial number.
As for gold decorative items (gold-plated products), you can select items based on feng shui that suit your age and destiny. However, these products have a significant drawback: they will not hold value when resold. Stores have indicated that they do not buy back gold-plated decorative items. Therefore, you need to consider carefully when choosing to purchase, as each of these products can range from several million to tens of millions of VND.
3. Gold purity
Image source: vang24h.
Before deciding to buy any gold products on the Day of the God of Wealth, you need to pay attention to the gold purity. For example, with plain round rings, the gold purity is usually engraved inside the ring for easy recognition. For gold products made with the pressed method, the purity will be indicated on the packaging.
The standard gold purity is marked as 999.9. If the gold is of lower purity, it is usually marked as 999.0 (this type of gold typically costs less than 999.9 gold). These numbers may look similar at a glance, and many people tend to overlook this detail, but in reality, these numbers are extremely important.
4. Buy gold from reputable companies
Regardless of which gold product you decide to purchase, it is essential to choose reputable and well-known companies and stores. After purchasing, make sure to obtain a complete invoice as it serves as proof of the transaction and will facilitate future buying and selling. Be cautious when buying from small, unregulated stores.
5. Choose a convenient and suitable purchasing method
On the Day of the God of Wealth, many people queue to buy gold from early in the morning. To avoid this, you can opt for online purchasing by registering to buy the desired amount of gold online, making a bank transfer, and simply picking it up on the desired day, which allows for more flexibility.
6. Consider buying gold quantities based on folk beliefs for prosperity
To attract fortune, buy 1 tael; for prosperity, buy 2 taels; and for wealth, it is recommended to buy 5 taels of gold. (Image source: vietnamfinance).
Additionally, when buying gold for luck according to folk beliefs on the Day of the God of Wealth, each quantity of gold carries its own significance. Accordingly, to attract fortune, you only need to buy 1 tael; for prosperity, buy 2 taels; and for wealth, it is advised to buy 5 taels of gold. You can base your purchase quantity on this meaning of attracting wealth.
We hope that the useful information provided above will help you have a smooth and successful gold purchasing experience on the Day of the God of Wealth!
