Onam 2024: Significance, Date, Time & Rituals

Onam, Kerala's magnificent harvest festival, is a time of joy, tradition, and celebration. Central to the festivities is the purchase of gold jewellery, which holds deep cultural and symbolic significance. Buying gold during Onam is a tradition and a sign of prosperity, wealth, and good fortune for the year ahead. The auspiciousness of this act, combined with the festival's vibrant spirit, makes gold an integral part of Onam celebrations, as families invest in this precious metal to honour their heritage and attract blessings.

What is Onam?

Onam is a ten-day festival celebrated annually in Kerala. The Onam months are celebrated around August or September based on the Malayalam calendar. Onam signifies the homecoming of King Mahabali who is believed to come to visit his people during this period wherein it marks not only King Mahabali’s reign but also abundance from bountiful harvests.

Celebrations and Customs of Onam

Onam, a festival rich in tradition, includes a variety of customs and practices that reflect the vibrant culture of Kerala. One of the most striking aspects is the Pookalam, where intricate floral arrangements embellish the entrances of homes, adding a burst of color and creativity to the celebration. The festival also features the Onasadya, a grand vegetarian feast served on banana leaves, showcasing a collection of traditional dishes that epitomize Kerala's culinary heritage. Another thrilling aspect of Onam is the

Vallamkali, the famous snake boat races on Kerala's serene backwaters, highlighting the community's spirit and competitive zeal. Furthermore, the festival is brightened by traditional dance and music, with captivating performances of Thiruvathira, Pulikali, and vibrant folk songs, all adding to the rich tapestry of Onam celebrations. This information on Onam reveals how deeply the festival is ingrained in the cultural heritage fabric of Kerala, blending joy, tradition, and community spirit.

The festival is so grand in Kerala that the Government of India promotes a tourist week here during the Onam celebrations that attracts large domestic and foreign tourists.

Significance of Onam and Gold

Gold plays a significant role in the customs and traditions of Onam, symbolising wealth, prosperity, and cultural pride. During this auspicious festival, elders frequently gift gold coins to children as a blessing for their future, while women adorn themselves with beautiful gold jewellery, representing the elegance and heritage of the occasion. The tradition of purchasing new clothes, often paired with gold accessories, is an integral part of the Onam celebrations.

This information on Onam below highlights the integral role gold plays in the festival's traditions, reflecting its deep cultural and symbolic value during the celebrations.

1. Importance of Gold in South Indian Culture:
   • Gold holds deep cultural significance in South India, valued both as a symbol of tradition, and prosperity and as a form of investment.
   • It is closely entwined with religious occasions, including Onam, where purchasing gold is believed to bring new beginnings and prosperity.
   • Gold has an aesthetic appeal and makes the celebration of Onam more elegant and grandeur matching with traditional attires to make the festival memorable.
2. Retail Promotions During Onam:
   • Retailers across the country seize the opportunity to offer various promotions and discounts during Onam.
   • These offers often include competitive pricing on specific purity standards and additional incentives such as discounts on bulk purchases.
3. Special Events and Marketing Campaigns:
   • To meet the increased demand, retailers organize special shopping festivals, Jewellery Mahotsava, and marketing events to showcase their latest designs.
4. Rise of Online Gold Shopping:
   • The trend of online gold shopping is picking up pace, with many customers opting for affordable, everyday jewellery that can be conveniently purchased online.
   • But for more elaborate pieces, such as wedding sets, are still predominantly purchased in physical stores, where emphasis on purity and authenticity certificates is crucial.

Can you share some tips for buying gold for Onam?

Here are some practical tips for consumers looking to buy gold during the Onam months:

Verify Purity

• Check Hallmarks: Confirm that the gold jewellery or coins you purchase have the BIS (Bureau of Indian Standards) hallmark. This certification guarantees the purity of the gold, usually expressed in karats (e.g., 22K, 24K) or fineness (e.g., 999 for pure gold).
• Ask for Assay Certificates: Request an assay certificate from the retailer, which provides details about the gold’s purity and authenticity.

Compare Prices

• Monitor Gold Rates: Keep an eye on gold prices leading up to Onam. Prices can fluctuate, so knowing the current rate will help you make an informed decision. Gold rates are often quoted per gram, so compare prices across different retailers.
• Check for Promotions: Many retailers offer special discounts or promotions during Onam. Look for deals that might include reduced making charges or additional discounts on bulk purchases.

Purchase from Trusted Retailers

• Reputation Matters: Buy gold from well-established and reputable jewellers. Check customer reviews and ratings to ensure the retailer has a history of reliability and fair practices.
• Verify Business Credentials: Ensure that the retailer is a registered business and has the necessary certifications. This can help in ensuring authenticity and good service.

Understand Making Charges

• Transparent Pricing: Ask for a breakdown of making charges. These charges are the cost associated with crafting the jewellery and can vary widely among different retailers.
• Negotiate Charges: During festive seasons like Onam, retailers might be more flexible with making charges, so don’t hesitate to negotiate.

Consider Resale Value

• Check Buyback Policies: Inquire about the jeweller’s buyback policies. This is useful if you plan to sell the gold in the future, as some retailers offer buyback schemes at a fair price.
• Opt for Popular Designs: Choose designs that have a higher likelihood of retaining value, such as classic and timeless pieces, which are often easier to resell.

Look for Authenticity Marks

• Examine Craftsmanship: Ensure the craftsmanship is of high quality, with no visible flaws. Authentic jewellery will have smooth, well-finished edges and a polished surface.
• Check for Stamps: Look for any stamps or engravings that indicate the gold’s purity and the manufacturer’s mark.

Timing of Purchase

• Avoid Last-Minute Rush: Purchase your gold well in advance of Onam to avoid last-minute rushes and potential higher prices due to increased demand.
• Best Time to Buy: Early in the day or early in the festival season might offer better prices and a wider selection.

Know Your Preferences

• Determine Needs: Decide whether you are buying gold as an investment, for personal use, or as a gift. This will guide your choice between gold bars, coins, or jewellery.
• Choose Designs Carefully: If buying jewellery, select designs that match personal taste or cultural significance, ensuring they are versatile for different occasions.

How does the significance of gold buying during Onam differ from that during Diwali and Akshaya Tritiya?

Gold buying is central to festivals in India. A comparison of gold buying highlights the significance of gold during Onam, Diwali, and Akshaya Tritiya each with its unique traditions and cultural significance:

Conclusion

Buying gold during Onam is more than just a ritual; it’s a celebration of prosperity, love, and cultural heritage. Whether as a symbol of wealth or a cherished gift, gold holds a special place in the hearts of Malayalis. As you embrace the festive spirit of Onam, investing in gold not only honours tradition but also secures a valuable asset for the future, ensuring that the joy and prosperity of the festival continue to shine brightly in the years to come.

FAQs

Q1. What are the benefits of buying gold jewellery in Onam?

Ans. Gold jewellery can be thought of as a good financial investment due to its ability to hold value and remain pretty sturdy against inflation as well as changes in the economy. It's a currency that doesn't falter too much in terms of its value. Buying gold is more than a tradition in Onam, hence it’s a symbol of prosperity and wealth for festive occasions.

Q2. Which is the best time to purchase gold in a year?

 Ans. If you're eyeing the calendar, January, August, September, and December have historically been good months for buying gold. Prices tend to go up during these times, so you might catch a good deal. Onam being in September, it’s a good opportunity to invest in the yellow metal ushering in the festive spirit.

Q3. What is the one reason gold is used in jewellery?

Ans. Gold and silver are metals with very little activity so moisture and air gases do not cause corrosion. Because of their bright, lustrous surface and good corrosion resistance, they are widely used in jewellery. Gold and silver are exceedingly malleable and ductile, hence they can be sculpted into any shape or pattern.

Q4. Why is gold cheaper in Kerala?

 Ans. Kerala has lower tax rates on gold compared to some other Indian states. This reduced tax burden contributes to making gold more affordable for buyers in the state. But before buying do not forget to check today's gold loan rate.