Retailers and jewellers witnessed robust demand for gold on the occasion Akshaya Tritiya on Friday, particularly in South India.
Akshaya Tritiya is considered an auspicious day to buy gold.
"According to our reports, in the southern region there has been a lot of footfalls (in stores) and activities since the last two days. In the north and west, the response is expected to be better in the evening when people will throng markets," World Gold Council managing director (India) Somasundaram P R told PTI.
Overall, sentiment on the festival day was positive and reports from core centres indicate robust business, he added.
All India Gems & Jewellery Trade Federation chairman Haresh Soni said business was 10-15 per cent higher in the southern region compared to last year's. Other centres - east, north and west - saw steady sales.
"The sales of gold bars and coins are low this year from compared to the same day last year. This year people are going more for low denomination jewellery, which is a good trend for the industry," he added.
Gitanjali Gems chairman and managing director Mehul Choksi said the demand was robust during the day and the business is expected to be similar to that of last year.
He further said that overall the sentiment was subdued mainly on account of the Government policies restricting gold imports and ongoing general elections.
Tara Jewels executive director and CEO (retail) Vikram Raizada said reports received from the company's stores indicate good business, especially in the north and west.
"Looking at the footfalls, we are expecting about 20-25 per cent growth in sales this Akshaya Tritiya, compared to the last year. Sales are mainly in diamond and lightweight jewellery," he added.
Manu Bhai Jewellers director Samir Sagar said the footfalls are robust across all its stores and people are going for generic and lightweight items.
"This year we are fortunate to have Akshaya Tritiya fall over two days. Yesterday, being a public holiday, saw a lots of footfalls. We expected a similar trend today also," he said.
Moreover, this year the marriage season begins just after Akshaya Tritiya, so there is a pick-up in demand for wedding jewellery compared to the last year, Mr Sagar said.
"Looking at the positive trend in demand, we are expecting about 25-20 per cent growth in sales this year," he added.
Leading commodity exchange NCDEX also received favourable response to its GOLDHEDGE contract, recording a volume of Rs 34.5 crore (140 kg), till 2.30 p.m.
RESULT
gold buyers throng jewellery shops on Akshaya Tritiya day. PTI | Mumbai Retailers and jewellers witnessed robust demand for gold on Akshaya Tritiya today,
Gold Buyers Throng Jewellery Shops on Akshaya Tritiya ...
Retailers and jewellers witnessed robust demand for gold on the occasion Akshaya Tritiya on Friday, particularly in South India. Akshaya Tritiya is
Gold buyers throng jewellery shops on Akshaya Tritiya day
Mumbai: Retailers and jewellers witnessed robust demand for gold on Akshaya Tritiya on Friday, particularly in South India where business was 10-15 per cent higher
Gold Buyers Throng Jewellery Shops on Akshaya Tritiya ...
Retailers and jewellers witnessed robust demand for gold on the occasion Akshaya Tritiya on Friday, particularly in S 7 hours ago, 12:39pm CDT
Gold retailers in Oman make windfall gains on Akshaya Tritiya
Buyers throng a jewellery shop on the occasion of Akshaya Tritiya on Monday (Muscat Daily)
Gold near 2-1/2 week high; poised for best week in a month ...
Gold Buyers Throng Jewellery Shops on Akshaya Tritiya. Gold, Silver Fall on Akshay Tritiya Day. Gold Futures Fall 0.16 Per Cent to Rs 28,535 on Weak Global
Akshaya Tritiya triggers rush for gold - The Hindu
Akshaya Tritiya triggers rush for gold a jewellery shop on the occasion of Akshaya Tritiya in in handy for many to throng the jewellery
Buy gold this Friday. You may hit a gold mine - Bangalore ...
Gold buyers will be making a beeline to jewellery shops again, as the auspicious Akshaya Tritiya, also known as Akshaya Trithi, falls on Friday.
Buy & Sell Gold Silver Precious Metals | Suncorp Gold Inc ...
Buy and Sell Gold Silver Platinum Gold buyers throng jewellery shops on Akshaya Tritiya day. Our Company caters to first time buyers to high net worth
People throng jewellery shops on Akshay Tritiya
Given their love for gold Indians need no excuse to buy gold. But today is different. People have been queuing up in front of jewellery shops to buy gold
