INCREASE OF 25-30% EXPECTED IN JEWELLERY TRADE TOMORROW ON AKSHYA TRITIYA

On auspicious occasion of Akshya Tritiya tomorrow, the Jewellery trade in the Country is expecting an increase of about 25% to 30% in sales of Jewellery this year in comparison to sales made last year on Akshya Tritiya-said the Confederation of All India Traders (CAIT).  Last year, the Akshya Tritiya did not went well with traders since the Country was under election mode and Gold prices were on a higher side i.e. about Rs.30 thousand per 10 gms, restricting customers to purchase gold and other jewellery.

Akshya Tritiya is considered to be an auspicious & lucky day in India.The most popular activity is the buying of gold and it is believed it will be a sign of good fortune for the buyer. The day is considered free from all malefic effects.

CAIT National President Mr. B. C. Bhartia & Secretary General Mr. Praveen Khandelwal while anaylising the expected sales of jewellery tomorrow, the day of Akshya Tritiya, said that most sales are expected in smaller value items like Rings, Coins, Chains, Bangles and other smaller items in gold. It is also seen that many people have booked gold items with jewellars few days back but will be picking up the delivery on Akshya Tritiya. Being an auspicious day, general tendency among the public is to make token retail purchase on Aksya Tritiya with a belief of good fortune.

Both Mr. Bhartia & Mr. Khandelwal said that this year there is a positive sentiment in the Country and the gold prices are stable i.e. Rs.26700 per 10 gram today. It is also expected that Gold Monetisation policy announced by the Finance Minister in Union Budget may also prompt the buyers to purchase gold tomorrow and later monetise with Banks. If such thing happens, it will mobilize cash liquidity in the market which is currently facing a great financial crunch.