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Why more Indians will be rushing to buy gold this Akshaya Tritiya

Buying has been robust, with consumers seeing a rising rupee as an opportunity to buy gold

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An employee shows gold bangles to a customer at jewellery showroom on the occasion of Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, at a market in Mumbai (Photo: Reuters)

Dilip Kumar Jha Mumbai
Gold jewellery sale is expected to rise sharply on the occasion of Akshaya Tritiya this year, after an appreciating rupee prompted many to book a piece for delivery on the due date. A stronger rupee has meant the Indian price rise is slower than abroad.

Akshaya Tritiya is on the coming Friday; it is considered one of the most auspicious occasions to buy a precious metal, primarily gold. In earlier years, people bought coins; the trend has shifted to token purchase of light jewellery, with the high prices. This year, bookings are skewed towards gold jewellery, in a price band