Jewellers stare at missed Akshaya Tritiya opportunity due to virus lockdown

Likelihood of customers coming to sell their own gold holdings when stores open adds to their worries

Over-a-month-long lockdown — from March 25 to May 3 — to contain the spread of novel coronavirus is proving to be the most difficult and financially stressful period for jewellers.

Jewellers, who saw close to no sales owing to a fortnight of inauspicious period leading up to Holi in March and high gold prices, had stocked up ahead of the lockdown, hoping for business to pick up during the wedding season after Holi and Akshaya Tritiya on April 26.

With the current liquidity crisis, jewellers also fear that whenever they are allowed to open shops, customers may rush to sell gold holdings