Gold connection: India's timeless love for gold shines in modern Diwali

“Sona sirf gehne nahi, shagun hota hai.”

Gold isn’t just jewellery, it’s a blessing. And nowhere does that belief shine brighter than during India’s favourite five-day festival, Diwali.

Hindu scriptures and folklore link gold deeply with wealth, purity, and divine blessings.

Temple art and rituals still reflect this ancient bond. Lakshmi is shown carrying or showering gold coins, and during Diwali, families worship her with rice, lamps, and coins, all offerings to invite her blessings.

Kubera, the mythological king of treasure, is often invoked alongside her as the guardian of wealth. Together, Lakshmi and Kubera form a divine duo in Diwali rituals.

Whether it’s a tiny coin, a delicate chain, or an heirloom bangle, buying gold during Diwali feels as natural as lighting diyas or sharing sweets. But how did this golden connection begin?

Dhanteras: The day gold shines brightest

Diwali, or Deepavali, is India’s grand Festival of Lights, celebrating the victory of good over evil and light over darkness. According to tradition, it marks Lord Rama’s return to Ayodhya after defeating the demon king Ravana, when people lit rows of lamps to guide and welcome him home.

The festival spans five days: Dhanteras, Chhoti Diwali, Lakshmi Puja, Govardhan Puja, and Bhai Dooj. Among these, Dhanteras is the day when gold truly takes centre stage.

The word Dhanteras literally means “the thirteenth day of wealth.” People clean their homes, decorate doorways with rangoli, and buy gold, silver, or new utensils, acts believed to bring prosperity.

This isn’t just superstition, it’s beautifully tied to mythology.

According to ancient texts, during the churning of the cosmic Ocean of Milk (Samudra Manthan), two divine figures appeared, Lord Dhanvantari, holding the pot of immortality, and Goddess Lakshmi, the goddess of wealth. Dhanteras, therefore, celebrates both health and wealth.

Buying gold on this day symbolises inviting Lakshmi into one’s home.

Gold as the language of devotion

On the third day of Diwali, families gather for Lakshmi Puja, praying together for happiness and success. As recorded in cultural notes, “all members of a family get together for the worship or puja of Goddess Lakshmi.”

It’s easy to see why gold became her eternal symbol. In almost every depiction, she stands on a lotus, her palms overflowing with golden coins, the picture of divine generosity. Gold, in her honour, became the way devotees expressed faith and hope for better times.

Folklore adds another sparkle to this belief. One famous legend tells of King Hima’s son, fated to die by a snake bite on Dhanteras. His clever wife surrounded his room with glittering gold ornaments and lamps, whose shine blinded Yama, the god of death. The prince lived, and gold came to symbolise not just wealth but life and protection.

Though mythological, this tale perfectly captures Diwali’s essence: gold’s glow stands for light over darkness and life over fear.

Gold in India’s ancient past

Gold’s place in Diwali is rooted in thousands of years of Indian history and trade. Archaeological finds show that South Asia has cherished gold since ancient times. According to UNESCO, the Indus (Harappan) civilisation produced hundreds of gold ornaments, armlets, beads, and necklaces, as early as 2500 BCE. These discoveries show that gold was treasured as both art and asset even then.

India’s reputation for gold only grew. By the early centuries CE, Roman writers called India the “Land of the Golden Sparrow,” describing how immense quantities of gold and silver flowed east in exchange for spices, textiles, and jewels.

UNESCO also notes that gold, silver, and precious stones were among the main items traded along the Silk Road, linking India with Central Asia and beyond.

Within India, gold became a statement of power and prestige. The Gupta Empire (c. 320–550 CE), known as India’s “Golden Age,” minted large gold dinar coins featuring deities like Lakshmi and elephants, literally turning divine symbols into currency.

Later, during the Mughal period, gold continued as a mark of wealth, used for special coins like the Mohur.

Historians have noted that across these ages, “gold acquired the status of auspiciousness” and remained India’s preferred store of wealth, a sentiment that continues to this day.

Given this long heritage, it’s no surprise that Diwali’s rituals revolve around gold. Buying it during Dhanteras is not merely a purchase, it’s a prayer for abundance, a continuation of faith, and a reflection of India’s enduring relationship with prosperity.

According to the World Gold Council’s report from December last year, Indian women collectively own around 24,000 tonnes of gold, which accounts for roughly 11% of the world’s total gold held in jewellery.

To put that into perspective, the total gold owned by Indian women exceeds the combined gold reserves of the world’s top five countries.

Even today, Diwali sparks the biggest rise in gold jewellery sales across India. Families buy new ornaments, coins, and utensils, blending age-old beliefs with modern celebration.