Diya, earthen lamps filled with oil, are lit for Diwali.
Two of the most important Hindu festivals, Dhanteras and Diwali, which are celebrated at the end of this month, have affected the price of gold. Diwali, known as the festival of lights, is a five-day celebration with fireworks, candles, sparklers, and other lighting displays by millions of Hindus, Sikhs and Jains across the world. It is an official holiday in Fiji, Guyana, India, Pakistan, Malaysia, Mauritius, Myanmar, Nepal, Singapore, Sri Lanka, Suriname, and Trinidad and Tobago. Dhanteras comes two days before Diwali and is meant to be a day to purchase new utensils or gold or silver coins, as gold is a traditional gift. The recent drop in gold prices has spurned the buying of gold for these holidays, and has the Spot price of gold up to its highest point in three weeks.
To read more, visit:
http://www.cnbc.com/2014/10/22/gold-prices-indian-diwali-holiday-drives-gold-sales.html
http://uk.reuters.com/article/global-precious-idUKL4N1CV5AD
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