Page 2 - Akshaya Tritiya

Akshaya Tritiya: Lightweight jewellery big hit as gold turns costlier

Some jewellers said last year's demand was "exceptional", following a near washout in the pandemic-affected years of 2020 and 2021

Sales sluggish on Akshaya Tritiya, lightweight items preferred: Jewellers

Sales of jewellery and gold items remained sluggish on the auspicious Akshaya Tritiya day on Saturday despite heavy footfalls at stores as high prices of the precious metal dampened the festive demand, according to jewellers. Jewellers are expecting a nearly 10 per cent decline in sales volume on Akshaya Tritiya this year compared to last year as gold prices have zoomed around 20 per cent since last year and customers are either making token purchases or going for lightweight jewellery. Akshaya Tritiya day is considered auspicious for buying gold, jewellery and valuables. However, as the auspicious occasion is spread over two days this year, jewellers are hopeful that sales will revive on Sunday. There have been steady footfalls since morning in jewellery retail stores, however, consumers are mainly going in for lightweight jewellery or 1-2 grams of gold coins as a token purchase to celebrate the festive occasion, jewellers said. "We have been getting positive responses on consumer

Akshaya Tritiya: Jewellers expect pick up in sales as gold prices soften

The recent softening of the gold price has supported demand for the yellow metal on the auspicious day of Akshaya Tritiya and jewellers have been witnessing steady footfalls since morning. "Since morning the footfalls have been good, mostly supported by the price coming down to around Rs 56,500 levels for 22 karat gold," All India Gem and Jewelry Domestic Council (GJC) chairman Sayam Mehra told PTI. People are buying new jewellery, mostly in light weight, and also picking up the pre-booked items. The footfalls are expected to increase as the day progresses, Mehra said. Jewellery from 5-33 grams and coins in 1-2 grams range are popular this year, he said, adding that this year, after Hallmarking, jewellery has become more popular than coins. "This year we expect business to be around 17-18 tonnes in terms of volume on Akshaya Tritiya. Last year, people bought wedding jewellery as the marriage season was immediately after Akshaya Tritiya. However, this year it's in June-July, so the

Akshaya Trithiya 2023: Most auspicious day to buy gold for Hindus

Akshaya Tritiya is an auspicious day to buy and invest in gold; the Shubh Muhurat to invest in gold is from 7:49 a.m. on April 22 to 7:47 a.m. on April 23

High inflation, Ukraine crisis boost jewellery sales on Akshaya Tritiya

Jewellers of Kolkata are happy on the auspicious day of Akshaya Tritiya to witness a footfall jump of 30-40 per cent compared to normal days

Akshaya Tritiya 2022: People celebrate with fervour, take holy dip in Ganga

Several leaders from the political spheres also extended their greetings on the occasion.

Jewellers see just 10% of pre-Covid sales as lockdown hits sentiment

For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-COVID sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people. In a normal year, the industry does business of 25-30 tonnes on Akshaya Tritiya, but this year, it expects a maximum of 3-4 tonnes of sales as offline sales have been badly impacted. Some organised players like Kalyan Jewellers did online bookings of gold which will be physically delivered later. "The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country. This has created an overall negative consumer sentiment," All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. He said lockdowns are imposed in almost 90 per cent of the states, where retail jewellery stores are closed and no delivery is allowed. This year, Pethe said, the

Akshaya Tritiya begins on sombre note; jewellers expect 10-15% sales

Akshaya Tritiya, a highly auspicious day to purchase gold, has started on a sombre note and jewellers are expecting only 10-15 per cent sales as the onset of the COVID-19 second wave, local restrictions and partial lockdowns have affected consumer sentiment. "As most of the states are under lockdown to curb the infections there is almost no business activity. The day of Akshaya Tritiya has begun on a slow note and whatever booking or enquiries are happening it is only through tele or digital medium," All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. He said, jewellers are expecting only 10-15 per cent sales this Akshaya Tritiya in places where the lockdown is not imposed or there are partial shutdowns. The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country causing an overall negative consumer sentiment, Pethe said. India's COVID-19 tally of cases climbed to 2,40,46,809, while the ...

Gold at all-time high of Rs 46,879 on fear of a second Covid-19 wave

If 3% GST is considered, price is just Rs 1,715 away from Rs 50,000 per 10 gram; Silver hits Rs 45,035 a kg, up Rs 2,050 from yesterday

Govt posts third-highest mop-up ever in gold bond sales this April

Physical sales were very limited due to the lockdown and sovereign gold bonds were one of the few avenues available to invest in the precios metal

Covid-19 lockdown: Jewellers reaching out to customers via online offers

Jewellers in Mumbai's largest gold market, Zaveri Bazar, will offer online jewellery sale on Akshaya Tritiya

Prices, goods and services tax mar gold buying ahead of Akshaya Tritiya

The reasons for this are manifold: Gold prices this year are higher than last year, and the goods and services tax (GST) is an additional burden for consumers

Jewellers line up discounts to entice consumers on Akshaya Tritiya

Gold demand in India is picking after slow sales in the last couple of years

Five reasons why this Akshaya Tritiya is a good time to invest in gold

With global growth expected to slow down, a 10% allocation will provide downside protection to your portfolio

Gold demand up 100% on Akshaya Tritiya, highest ever since 2013

Apprehension of high GST forces jewelers to bring all gold stock on books

Akshaya Tritiya 2017: Check out all the discounts on gold, diamonds today

All leading online portals are enticing consumers with some heavy discounts on gold

Buy gold for price as low as Re 1 this Akshaya Tritiya: Here's how

What if you were told that you can buy gold for a rupee on Akshaya Tritiya 2017?

Planning to buy gold this Akshaya Tritiya? Keep these key things in mind

An explainer on how to go about making investments in gold ahead of Akshaya Tritiya

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

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 mean 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 of Rs 30,000-50,000 a piece.Buying has been robust this season, with consumers seeing a rising rupee as an opportunity to buy gold. This is one change over recent years -- from an occasional purchase, irrespective of price movement, consumers nowadays buy gold at every price dip, even without any occasion."It was not a real Akshaya Tritiya last year, due to jewellers' long strike ahead of this festival. While some ..

Jewellers see 10% growth in sales on Akshaya Tritiya

WGC, MD - India, Somasundaram PR said the buying behaviour of consumers is returning to normalcy following jewellers resuming business after a month long protest over excise duty