For generations, Dhanteras has been synonymous with gold. Believed to invite wealth and prosperity, the yellow metal has been bought and gifted by Indian families for decades to mark the first day of Diwali.
But in today’s day and age, the definition of investment has evolved with growing convenience, confidence and consciousness.
The new generation of young, financially-aware individuals are more inclined towards investing in digital assets, mutual funds and exchange-traded funds (ETFs) over the usual jewellery and coins that have been the tradition for long.
The change in the way of investment in today’s world
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According to Rudrak Bhattacharya, associate director at Standard Chartered bank in Kolkata, the enthusiasm to invest in gold hasn’t entirely faded, but the way of investment has changed. “Since gold prices are very high, people are trying to buy it online,” he said. “Mutual funding is not only restricted to equity. You can buy gold, silver and commodities through mutual funds. These options are now available.”
While he noted a decline in Dhanteras-specific equity trades, he insisted that the younger generation invests consistently throughout the year instead of making one-time festive purchases.
The influence of fintech apps is primarily driven by word of mouth and has become a major motivation for the youth, Bhattacharya explained. “If I am a subscriber of Groww and I know that this platform is good, I can easily buy and sell here,” he said. “It mainly depends on trust and convenience.”
Copper might just be the next gold
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Anish Mitra, senior manager at SBI Mutual Fund in Kolkata, shared a slightly different perspective. “I’ve noticed that the younger generation is very enthusiastic,” he said. “Gold is at an all-time high, silver will be the next gold, and copper might follow. They’re investing all throughout the year through ETFs and mutual funds.” According to him, the accessibility of commodities trading through digital platforms has opened up investment opportunities that didn’t exist for previous generations.
Mitra said that younger professionals, who are financially independent earlier in their career, often live with their parents, allowing them to save and invest more aggressively. “Most of them start earning between 20 and 30,” he remarked. “Since they’re unmarried and don’t have major responsibilities yet, they have a chance to start saving from day one.”
Investment is perpetual
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For 23-year-old Anirban Saha, digital gold represents both tradition and practicality. “Physical gold is not a very secure medium to store your wealth. It can be stolen or get damaged, and it always comes with making charges,” he said. “Digital gold is safer and more efficient.”
Adding to his approach, he continues to buy gold every Dhanteras as he sees it as a nod to tradition. “I’m influenced by the Hindu tradition of buying gold during Dhanteras,” he said. “But being from Gen Z, I’d rather spend on gold bonds than ornaments.”
Anirban began investing as a teenager, while working small freelance gigs and reinvesting his earnings. “Investment is something perpetual. It keeps happening throughout the year,” he said. “Dhanteras gives me that extra motivation to make mature money decisions.” The festival hasn’t lost its cultural value for Gen Zs, he said. It has evolved into a timeline to take financial responsibility more seriously.
‘Every day is Dhanteras if you invest cleverly’
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Some Gen Zs began investing with a hint of curiosity. Siddhanta Chandra, 23, took an informed decision after learning about assets in high school. “Growing up, we saw our parents buying LIC policies and creating new FDs,” he said. “In Class 11, I finally learnt what assets are and how they work.” This early exposure led him to research shares, stocks and indices on his own, offering him a more solidified outlook – one that was different from the traditional investment ideologies of his family.
Siddhanta’s mantra is simple yet powerful. “Every day is Dhanteras if you invest cleverly.” He believes that the stock market offers varied opportunities, but also demands strict vigilance. “The BSE is prone to market manipulation, which is why gold will always be the king – the last asset you should liquidate unless circumstances call for it,” he said.
Dhanteras is just another day but…
Like Siddhanta, Aratrik Chakrabarti, a 24-year-old IT professional, embarked on the journey early in his life during his college years after landing his first job. He sees financial planning as both a necessity and a long learning process.
“The motivation to get into investing was financial stability and a stable source of passive income,” he said. “Social media and colleagues influenced me, seeing how early investments helped them was encouraging for me.”
For Aratrik, Dhanteras is just another day, although he admitted that he still buys a piece of jewellery for his mother or himself as “silver and gold are appreciating assets and we can never go wrong with them”.
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Aratrik perfectly captured the balance that young investors must adopt in their investment decisions. “Property and gold are stable and consistently appreciating assets, but digital investments can offer higher profits if done right. However, they’re high-risk and require dedication and knowledge. For the middle class, even a small loss can be a lot,” he explained.
‘Investing in gold makes sense when you have a family’
Meanwhile, Souhardya Ghosh, who began investing in January 2023, spoke for the young generation that’s ready to take on risks. “Discussions with peers and a lack of productivity led me to take an interest in the stock market,” he said. “I don’t have the funds to invest regularly, but when I do, it depends on timing and research.” Investing is an intuitive process for the 24-year-old, driven by a strong gut feeling and averaging his old stocks.
As a young investor without any family responsibilities as of yet, Souhardya looks at the risk factor sportingly. “I totally prefer equity because I can afford to take risks now,” he said. “Investing in gold is like playing it safe, which makes sense once you have a family to take care of.”
As the city lights up for Dhanteras this year, Kolkata’s youth are proving that tradition and technology can indeed coexist. What has changed is the approach – a shift from one-day rituals to consistent financial practices throughout the year. The cultural echoes of buying gold or participating in Muhurat Trading haven’t entirely faded. They have transformed into consistent, research-driven habits that value convenience as much as culture.