THE glitter of gold proved irresistible for the buyers on Sunday which sparked an unprecedented shopping frenzy across the district. Jewellers recorded a staggering turnover of approximately Rs 130 to Rs 150 crore on the day, showing consumers’ strong faith in the jewellery buying on the auspicious occasion of Akshay Tritiya. It is widely considered that Akshay Tritiya guarantees that any venture started or asset purchased on this day will continue to grow. This belief drew people from all walks of life to showrooms in Itwari Sarafa Bazaar, Sitabuldi, Gokulpeth, Shivaji Nagar, Laxmi Nagar and other commercial places in the city. Similar responses were also reported from places like Butibori, Koradi, Khaparkheda, Kamptee, Ramtek and other places. Jewellers told The Hitavada that they witnessed increased footfall on the day. One of the jewellers based in Itwari said that customers started visiting the showroom from morning hours when the Shubh Muhurat began at 10.49 am.

 

Another jeweller said customers thronged his showroom from afternoon. To attract buyers, jewellers in the city and surrounding areas transformed their stores into hubs of activity. Elaborate arrangements were made to manage the massive footfall, with many shops extending their operating hours. For many, the purchase was less about luxury and more about ritual. While diamond and silver jewellery saw significant movement, the demand for gold and silver coins remained exceptionally high. Apart from this, modern, delicate designs in the light weight category were the top-sellers for those looking to maintain the tradition without spending more. Similarly, with the marriage season round the corner, people bought mangalsutras, bangles, earrings and other ornaments. Many customers had pre-booked their ornaments weeks in advance to lock in prices, resulting in a seamless delivery process on the auspicious day. Interestingly, this year’s buying presented a fascinating paradox. While the total revenue saw a healthy 15 to 20 per cent jump compared to last year’s Rs 120 crore, the physical quantity of gold sold actually dipped by 25–30 per cent. Rajesh Rokde, Chairman of All India Gems and Jewellery Domestic Council (GJC), and Director of Rokde Jewellers, said the rising prices of gold played a crucial role in the changed buying pattern.

 

“There is a historic surge in gold prices, which have climbed nearly 60 per cent since the previous Akshaya Tritiya. To compensate for this hike, customers made changes in their buying,” he added. Rokde also said that despite the decrease in the physical volume of gold changing hands, the record-breaking monetary turnover signals a robust local economy. “The willingness of citizens to spend Rs 150 crore in a day suggests that for the Indian consumer, the intersection of tradition and investment remains the strongest motivator in the retail sector,” he added.