Gold market in Akshaya Tritiya (Representational Image)
After languishing for the past three years, this year's Akshaya Tritiya got off to a good start Tuesday with jewellers reporting higher footfalls.Consumers have been thronging to jewellery shops to buy token gold items and also to take delivery of their pre- booked jewellery. All-India Gem & Jewellery Domestic Council chiarman Anantha Padmanabhan said he has been getting positive news from across the country especially from the South.
"Despite the scorching heat, the response so far is positive as people are flocking to jewellers mainly due to stable prices. We see more offtakes of light weight jewellery during this auspicious day and expect more momentum after the office hours," he told PTI.
Favourable prices are helping the positive consumer sentiment. Currently, gold is ruling at Rs 31,800-32,000 per 10 grams."Footfalls are good despite the heat and a working day. Mostly women are visiting shops to buy token items like coins or light weight jewellery.
Many are coming in to pick up pre-booked jewellery," Nitin Khandelwal of Khandelwal Jewellers, who is also the former chairman of the All-India Gem & Jewellery Domestic Council, said.He expressed the hope that the momentum will gather more speed by the evening.
Saurabh Gadgil, national vice-president of the India Bullion & Jewellers Association and chairman of the PN Gadgil Jewellers, also exuded confidence that footfalls will peak by the evening."Currently, we are seeing more offtakes on light weight items and also coins," he added.
UT Zavery's Kumar Jain said, this particular muhurat on the Akshya Tritiya has come after 17 long years so people want to take advantage of it."Mostly people are coming to pick up their pre- booked items.
However, may are also coming in to buy token items for the day. As polling are over and the movement are no longer restricted on carrying jewellery, footfalls have gone up. We expect it will peak by the evening," he added.