The rise in gold prices is not expected to dampen the spirits of gold buyers this Akshaya Tritiya, which falls on May 16. The yellow metal, which has been on the rise over the last few months owing to weak dollar and the euro crisis, peaked at a record high of Rs 1,670 per gram (22 carats) on Wednesday,
However, jewellers are gearing up to handle the surge of customers on Akshaya Tritiya, the day considered auspicious to buy, with attractive offers such as ‘buy two gms of gold and get one gm of silver free,’ minimal making/wastage charges, and free snacks.
“I have been buying gold jewellery on Akshaya Tritiya for the last 14 years regardless of the increase in prices. This year I have already paid an advance for a necklace, which I will pick up on May 15,” said Ms Padma Kumar, a homemaker from Bengaluru, who buys anywhere between 10-50 gms of gold ornaments every year.
She, like many others, believes that buying gold on this auspicious day will result in never-diminishing money, wealth and prosperity throughout the year.
“Akshaya Tritiya is considered auspicious to buy gold. Since the price of gold has gone up, I will buy gold in lesser quantity,” Ms Trushna, a software engineer from Hyderabad, told this newspaper.
While some jewellers expect a marginal decrease in demand, most are confident of doing brisk business this year and the sales in terms of money will exceed last year’s figure.