Nation Crime 08 May 2019 Akshaya Tritiya sees ...

Akshaya Tritiya sees 30 per cent rise in gold sale

DECCAN CHRONICLE. | A. ARUL PALANI AND SWETHAVIMALA. M
Published May 8, 2019, 5:57 am IST
Updated May 8, 2019, 6:18 am IST
According to sources, 10 gm of 24-carat gold was sold at Rs 33,160 in February and Rs. 33,050 in March.
    Women buy and try on jewels at a jewellery shop in T. Nagar, on Akshaya Tritiya day,  on Tuesday.  (Image DC)
  Women buy and try on jewels at a jewellery shop in T. Nagar, on Akshaya Tritiya day, on Tuesday. (Image DC)

Chennai: The sales of gold and silver jewellery in view of the annual Akshaya Tritiya increased to 30 per cent on Tuesday compared to last year. Sales have shot up as jewelers, among others, have offered discounts and free gifts for purchase of jewellery, says Jayantilal J. Challani, Madras Jewellers & Diamond Merchants' Association. A large number of buyers booked jewellery using pre-booking facilities.

 A large number of people thronged famous jewellery outlets in T Nagar, Panagal Park, Valsaravakkam, Anna Nagar, Tambaram, Adyar, Pursaiwalkam, Sowarcarpet, Chromepet, Tiruvottiyur, Mylapore and Velachery to purchase gold jewellery. They began to reach the outlets from 6 am on Tuesday and shops remained open till midnight.

 

Four to five police personnel were posted in front of each outlet to provide security. Juice shops sprung up in a number of places. As a large number of people thronged the market, traffic police faced a tough time in regulating traffic in these places.

 According to sources, 10 gm of 24-carat gold was sold at Rs 33,160 in February and Rs. 33,050 in March. There has been a decline of Rs 1,320 per 10 g of 24-carat gold now. Besides a decrease in price, jewelers offered discounts and other free gifts. As a result, sales have increased to 30 per cent when compared to last year. Currently, the price of 10 gm of 24-carat gold is at Rs.31,730 against last year's Rs. 31,535.

S. Prema of Vadapalani said, "People think that buying gold jewelry is auspicious during Akshaya Tritiya. Hence I came to the shop at 7 am. The jeweler displayed a large number of new models and new designs."

 "Among other reasons, the festival is also associated with praying to Goddess Lakshmi. It is believed that buying gold on Akshaya Tritiya brings good fortune and luck in life. Hence, I came to purchase a chain for my daughter who is studying B Tech," said C. Jayanthi of Tambaram.

Jayantilal J. Challani, Madras Jewellers & Diamond Merchants' Association, says, "This year, people made online bookings in advance to purchase jewels in view of  Akshaya Tritiya. Already, this year's pre-booking has increased by 30 per cent. Similarly,  counter sales will also increase."

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