Warm sales on this Akshaya Tritiya
On this day buyers started their shopping from morning we can see a huge rush on jewellary shops to bring gold home and bring good luck charm in their lives. Jewellers expect tepid surge in sales as the gold price has shot up in the last few weeks following global cues.
Akshaya Tritiya is a holy day of Hindus and Jains and it is believed that bringing gold in the home is good luck and success on this auspicious day. On this auspicious day Bachhraj Bamalma past chairman All India Gem and Jewellery told IANS that We expect gold sales to pick up by around 20 percent on Akshaya Tritiya this year.
The only concern is the higher price of gold. Last year on the auspicious day, the price was in the range of Rs.27,000 per 10 gm of 24 karat gold, while this year, it is over Rs.30,300. Consumers are expected to buy lesser quantity of gold due to higher prices.
Last year on Akshaya Tritiya, jewellers reported more than 20 percent growth in sales over the previous year. This year, the market has been on a disturbing phase following a 45 day strike. It will be good enough if the gold sales trend follows the last year’s trend given the higher price of gold we have on Monday,’ Suvro Chandra, joint managing director, P.C. Chandra Jewellers told IANS in Kolkata.
|