How gold did flare this Akshay Tritiya?
The spirit of old tradition of buying gold was intact on this Akshay Tritiya
Askhay Tritiya, an auspicious day in Hindus is known for buying precious metal gold. On this day,
as per the popular belief, Goddess Laxmi blessed Lord Kubera and titled him as a Lord of wealth and prosperity. Every year on this day, many Indians buy gold to welcome good luck. This year’s Akshay Tritiya witnessed a significant change in gold buying pattern. The Confederation of All India Traders (CAIT) reports 25% rise in gold purchase on the day of Akshay Tritiya. An estimated gold sold on this auspicious day was worth Rs. 2000 Cr.
From past few decades, the idea of buying gold has become more widespread and accepted by metro as well as semi-urban areas. Some of the major economic phenomenon still has an impact on gold industry. Somasundaram, Managing director of the Indian arm of the World Gold Council, the body of the mining industry, said: “The gold market is more stable now after remonetisation of the economy”. The gold rates increased in last one week of Akshay Tritiya, but customers still made symbolic purchases on this day to bring prosperity in their lives. The big-ticket jewellery purchases were witnessed on this day due to wedding season.
The metro city, Bengaluru did an exceptionally good sale of gold on this day. Despite higher gold prices compared to last year, gold enthusiasts got home gold as per their budget, which helped to boost overall volume sale on this day. Many jewellers offered attractive gold buying schemes to customers on this day. This Akshay Tritiya the consumer sentiment was encouraging for the gold industry. Many people preferred gold and diamond jewellery than pure plain gold coins. Some reputed online platforms have declared record-breaking sale of gold on this day. It reflects the importance of new buying platforms for precious jewellery.
There is a big shift in buying gold and diamond jewellery as customers choose hassle-free shopping experience on online platforms. Many jewellers are seen to be geared up to meet this technological move and satisfy this relatively new buying pattern. Increase in per capita income has aspired customers to buy precious gold and diamond jewellery, which was earlier beyond their reach.
The precious metal gold never fails to impress you with its charm and sheen. If you missed a chance to buy beautiful jewellery on this day, visit www.pristinefire.com and bring home some more good luck.