Gold festival registers brisk business

The 'Andhra Pradesh Gold Festival 2005' helped gold jewellers in Andhra Pradesh do brisk business despite discouraging circumstances in the gold market.

The festival nullified the effect of the rise in gold price on the retail market, said Mohanlal Gupta of Musaddilal Jewellers Exporters and member of the southern region of Gold Jewellers Export Promotion Council (GJEPC) at the prize distribution ceremony organised to award the lucky customers who participated in the shopping festival.

Around eight lakh customers who made purchases worth Rs 2000 and above, from over 350 jewellers across 10 districts in the state were eligible for the lucky draw.

A total of 227 lucky customers were distributed five kilos of gold, including a one kilo gold bumper prize.