Akshaya Tritiya: Jewellers expect strong season this year amid high gold prices

The recent jump in the precious yellow metal is not likely to affect consumer demand on the occasion of Akshaya Tritiya with jewellers expecting a strong season this yearA day ahead of the auspicious occasion of Akshaya Tritiya gold prices were above the Rs 60000 per 10gram markThe opening price for 999 purity gold was Rs 60446 per 10 grams while that of 999 purity silver was Rs 74763 per kg the data available on India Bullion and Jewellers Associationrsquos IBJA website showed on FridayAditya Pethe director of Mumbaibased WHP Jewellers said consumers buy gold irrespective of the price and higher prices boost the confidence of the consumer in the categoryAlso Read When is Akshaya Tritiya 2023 Date significance and all you need to knowAkshay Tritiya is a major goldbuying festival as it is believed that buying gold or assets brings in good luck Consumers tend to buy gold irrespective of the price In fact higher prices boost the confidence of the consumer in the category We are expecting a strong season this year as wedding season is also getting started and gold has proven its mettle by showcasing tremendous performance in the last couple of years The purchase of lightweight gold necklaces and diamond jewellery is expected to be high Token purchases in form of bullion and wedding jewellery orders are also expected Pethe saidEchoing similar sentiments Vaibhav Saraf Director of Aisshpra Gems amp Jewels said he was elated at the amazing response from people who are buying all types of jewellery including gold diamonds bridal etcWe are thrilled to witness the amazing response from our patrons across all our stores We have seen walkins and there has been a festive vibe in the stores People are buying all sorts of jewellery including gold diamonds bridal etc bullion will be moving as usual for token buyers too Rising gold prices have not impacted wedding shopping as there is a bridal season ahead Saraf saidSaraf further said that to encourage customers his company has announced a lucky draw contest and also giving away assured silver coinsWe have also announced a lucky draw contest just like the last year where lucky winners will get one Ciaz car and seven Hero bikes To encourage customers we are also giving Assured silver coins for the purchase of gold and diamond Jewellery This was our way of just being a part of the festivities he said