FACTBOX - Days seen as auspicious for buying gold in India

MUMBAI Wed Jan 16, 2013 2:55am IST

Gold bars are displayed at a gold jewellery shop in Chandigarh May 8, 2012. REUTERS/Ajay Verma/Files

Gold bars are displayed at a gold jewellery shop in Chandigarh May 8, 2012.

Credit: Reuters/Ajay Verma/Files

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MUMBAI (Reuters) - Following are some of the days considered auspicious for gold purchases in 2013 according to the Hindu calendar in India, which is vying with China to be the world's top consumer of the precious metal.

Date Occasion Significance -

January 14 Makar Sankranti Harvest festival

January 27 Pushya Nakshatra Launching new ventures

February 13 Shree Ganesh Jayanti Festival

February 23 Pushya Nakshatra Launching new ventures

March 23 Pushya Nakshatra Launching new ventures

April 11 Gudi Padwa Maharashtrian new year

April 12 Pushya Nakshatra Launching new ventures

April 18 Gurupushyamrit Launching new ventures

May 13 Akshaya Tritiya Gold invokes prosperity

May 16 Gurupushyamrit Launching new ventures

June 12 Pushya Nakshatra Launching new ventures

July 10 Pushya Nakshatra Launching new ventures

July 22 Guru Poornima Festival

August 6 Pushya Nakshatra Launching new ventures

August 20 Raksha Bandhan Festival

September 2 Pushya Nakshatra Launching new ventures

October 13 Dussera Festival

October 27 Pushya Nakshatra Launching new ventures

November 1 Dhanteras Gold invokes prosperity

November 3 Laxmi Pujan Worshipping goddess of wealth

November 4 Diwali Festival of lights

November 5 Bahubij Festival

November 23 Pushya Nakshatra Launching new ventures

December 19 Gurupushyamrit Launching new ventures

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The biggest gold buying festivals are Akshaya Tritiya and Dhanteras. An inauspicious phase -- Shradh -- a period for paying homage to ancestors, runs from September 20 till October 4.

The Hindu calendar has regional variations, but the above dates are broadly followed across the country in gold trade for planning inventories.

(Reporting by Siddesh Mayenkar; Editing by Joseph Radford)

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