ON THE auspicious occasion of Akshaya Tritiya, jewellery stores across the city witnessed heavy demand for gold despite its elevated prices, with an estimated sales of Rs 150 crore in the city on Wednesday. Since, Akshaya Tritiya is believed to bring wealth and prosperity on purchasing gold, people with great enthusiasm thronged various jewellery showrooms in the city on this special day. At the Nagpur Sarafa Oli, Itwari gold was quoted at approximately Rs 95,400 per 10 grams, while silver was at Rs 96,000 per kg (Without GST, Hallmark charges and making charges). A prominent jeweller of the city, Rajesh Rokde, Chairman of the All India Gems and Jewellery Domestic Council (GJC), said, “There is a robust 25 per cent surge in jewellery sales compared to last year.”

 

“Most of the 3,000 jewellers in the city witnessed above average footfall at their shops. Gold is one the best assets for long-term investment, offering trust, security and good returns,” he said. People braved the heat throughout the day and lined up at the showrooms in Dharampeth, Sadar, Itwari and other markets to buy the trendy jewellery. Out of the total jewellery business posted on Wednesday, gold contributed nearly 80 per cent, while the share of diamond and silver was at 15 per cent and 10 per cent, respectively. Kishor Sheth, Director of Batukbhai and Sons Jewellers said, “Akshaya Tritiya witnessed a massive demand for gold, diamond and silver jewellery with a rise of 20 per cent as compared to last year in the same period. Most people follow the tradition of buying gold to enhance family wealth and prosperity. And thus people do not want to miss the opportunity.” Pradip Kothari, Director of Karan Kothari Jewellers, said that there was a fantastic response on Akshaya Tritiya.

 

“There was a rise of 20 per cent in sales as compared to last year. A significant number of customers made bookings in advance and took the delivery on Akshaya Tritiya, in line with the auspicious tradition,” he added. Rajesh Khandelwal, Director of Khandelwal Jewellers, elaborated that, there was record high demand for gold jewellery and coins on Akshaya Tritiya. In addition, customers also showed interest in buying diamond and silver ornaments as most of the jewellers offered attractive schemes and offers on making charges. According to Manubhai Soni, a gold wholesaler and manufacturer, light-weight gold ornaments, necklaces, bangles, earrings, mangalsutras, were in great demand.