Retailers and jewellers witnessed robust demand for gold on Akshaya Tritiya today, particularly in South India where business was 10-15 per cent higher than last year's.
Akshaya Tritiya is considered an auspicious day to buy gold.
"According to our reports, in the southern region there has been a lot of footfalls (in stores) and activities since the last two days. In the north and west, the response is expected to be better in the evening when people will throng markets ....," World Gold Council Managing Director (India) Somasundaram P R told PTI.
Overall,, the sentiment on the festival day was positive and reports from core centres indicate robust business, he added.
All India Gems & Jewellery Trade Federation Chairman Haresh Soni said business was 10-15 per cent higher in the southern region compared to last year's. Other centres -- east, north and west-- saw steady sales.
"The sales of gold bars and coins are low this year from compared to the same day last year. This year people are going more for low denomination jewellery, which is a good trend for the industry," he added.
Gitanjali Gems Chairman and Managing Director Mehul Choksi said the demand was robust today and the business is expected to be similar to that of last year.
He added that overall the sentiment was subdued mainly on account of the Government policies restricting gold imports and ongoing general elections.
