According to the belief of the Vietnamese people, buying gold on the 10th day of the Lunar New Year is considered to bring good luck, success in work, wealth and prosperity, and abundant money for the whole year.
Therefore, on this day, people can see long queues of people waiting to buy gold for good luck at gold shops.
Why is there a tradition of buying gold on the day of the God of Wealth?
Folklore has it that the God of Wealth is the deity who governs wealth in heaven. One day, while he was out drinking, he got so drunk that he stumbled and fell to the mortal world, hitting his head on a stone and losing his memory, not knowing who he was and had to beg for food. The people in that area gradually realized that whenever the old beggar was invited to a restaurant to eat, that restaurant would be crowded with customers and their business would thrive.
Then one day, the old beggar regained his memory, realizing that he was the God of Wealth, so he hurried back to heaven, which happened to be on the 10th day of the Lunar New Year. In order to seek the protection of the God of Wealth, on the 10th day of every month, people offer prayers and worship the God of Wealth, hoping for good business and prosperity. Especially, the 10th day of the Lunar New Year is considered the most important, when people pray to the God of Wealth.
Many people believe that if they buy gold – which symbolizes wealth, fortune, and riches – on the day of the God of Wealth, they will bring wealth and fortune, have a smooth and prosperous business, and abundant money.
Why is there a tradition of buying gold on the day of the God of Wealth? (Photo: Minh Duc)
In the past, only businessmen used to buy gold on the day of the God of Wealth to pray for wealth and fortune. In recent years, many people in other professions have also followed the trend and rushed to buy gold on this day, hoping for the protection and blessings of the God of Wealth, because gold symbolizes wealth and prosperity.
Some people believe that buying gold on the day of the God of Wealth should not be arbitrary, but should be based on the buyer’s wishes to choose the appropriate amount of gold. For example, if you want to pray for fortune, you should buy 5 taels of gold, for prosperity 2 taels, and for luck 1 tael.
For many people, buying gold is also a form of saving, avoiding waste after the Tet holiday spending spree. That is also the reason why there is a tradition of buying gold on the day of the God of Wealth.
Should you buy gold rings or gold bars?
Those who buy gold just for good luck and keep it without intending to sell it can buy products in the form of animal symbols or zodiac signs that are compatible with their age and destiny. But if you want to sell without losing, it is recommended to buy plain round gold rings or gold bars.
According to economist Dinh Trong Thinh, a lecturer at the Academy of Finance, on the day of the God of Wealth, the price of gold in the market usually increases sharply, so buyers should choose gold rings for good luck.
Should you buy gold rings or gold bars on the day of the God of Wealth? (Photo: Minh Duc)
Explaining this, Thinh said that the price of gold rings is much lower than that of SJC gold. Besides, the price fluctuations of gold rings in Vietnam are closely related to the world gold price. SJC gold bars have a large denomination and are often not favored like gold rings on the day of the God of Wealth, so they may decrease significantly following the world trend.
