It’s Akshaya Tritiya the day after tomorrow. Buying gold on that day is considered especially auspicious. Prices won’t come in the way.
Gold buyers will be making a beeline to jewellery shops again, as the auspicious Akshaya Tritiya, also known as Akshaya Trithi, falls on Friday. The day is considered especially auspicious this year.
On this day, people throng jewellery shops with the belief that they
would be bestowed many blessings if they bought gold on the day. Gold is also considered a safe investment option, and despite the high prices, there is likelihood to be great demand for the yellow metal.
“We have announced a surprise gift on advance bookings of over Rs20,000. Though there is an increase of Rs100 per gm compared to last week, and the current price is Rs2,050 per gm, we have decent orders from customers. We are expecting good business on that day as the sale would be unquestionably high,” said the manager of Jos Alukkas.
“Akshaya Tritiya is believed to be the best day to buy gold as there are good offers and surprise packages. Even if there is a hike in gold prices, I intend to buy at least one or 2gm,” said Usha Sasidharan, a customer.
Though people prefer shops that give special offers, there are wholesale shops which end up doing good business even without any special offers.
Chandrashekar, the manager of Shubh Jewellers, said, “We do not have any special offers because ours is a wholesale shop where we do not impose any extra charges. This week there has been a rise in gold prices by Rs230 per gm. Even if the gold prices increase, we have always had consistent sales and the same is expected on the auspicious day as well.”
Talking of special offers, Davanam Jewellers at Commercial Street gives one silver coin and free insurance cover on every purchase and they also have surprise spot offers. Malabar Gold has a ‘Brides of India’ offer for two months, and customers are assured free gifts on purchase of gold.
This festival sees families going gold shopping together. In fact, even the youth are not far behind when it comes to following tradition. Priya R, a student who was out shopping with her mother and sister said, “Since it is auspicious, we wanted to buy some gold jewellery.”
Kalyan Jewellers said that there was a considerable increase in the sales during the week leading to Akshaya Trithiya. A customer there said even though the store didn’t have a specific offer for this festival, their 3% all-year-long discount is great.
“Investment in gold has proved itself as the best hedge against inflation and the various economic factors that can deplete one’s wealth. The retail jewellers across India are adding to the ‘gold buying’ fervour by introducing new collections and designs to commemorate the occasion of buying gold and wearing it. In addition, through a unique initiative by the World Gold Council, 700 post offices across the country are now offering investors exclusive Swiss-made gold coins, along with special schemes.
Consumers who buy a 10gm gold coin will get a 0.5gm gold coin free, for instance,” said Madhumita Dutta, head of marketing, World Gold Council, India.
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