Is it fine to swap old gold for new jewellery on Dhanteras? What to check before you do

In India, buying gold jewellery on Dhanteras is considered auspicious. Many people also buy gold as an investment. The question now is whether it is auspicious to give old jewellery in exchange for new gold on Dhanteras.

According to a World Gold Council survey, 76% of people have shown interest in exchanging their old jewellery for new. The question is therefore not only one of religion, but also of people's financial situation.

Is it inauspicious, then, to give away old gold? Old religious texts lay down no clear rule on today's retail-style gold exchange. The belief that giving away old gold on Dhanteras makes "Lakshmi leave" is not a scientifically proven theory. The Dhanteras tradition stresses growth of prosperity and the arrival of auspicious things in the home. By that reasoning, giving jewellery that is unused or has grown old in exchange for new gold is not a loss of wealth but a change in its form.

Families who are religious may first have their old jewellery checked and exchanged. They can then bring home new jewellery or a coin at an auspicious time. This keeps the tradition and is also convenient.

Now the auspicious timings. This year Dhanteras falls on Friday, November 6. In Delhi, the Trayodashi tithi begins at 10:30 am. The Lakshmi-Kubera puja and the Sthir Vrishabha Kaal will run from 6:02 pm to 7:57 pm. Several auspicious choghadiyas are available for buying gold after Trayodashi begins.

There is an astrological aspect worth noting. Retrograde Venus will enter Virgo on November 6. The planet Venus is associated with wealth, jewellery and luxury. The more useful practical lesson is not to spend needlessly on show. It is better to buy jewellery that will be used, whose price is clear and that fits your budget.

What should you look for when exchanging gold? When exchanging old gold, check separately its purity, the deduction on melting, the weight, the exchange rate, the making charge and the final bill. Because prices have risen, demand for light-weight jewellery and for exchange of old gold has increased this festive season. At many large jewellers, exchange has now become an important part of sales.