Bangalore : People flocked jewellery outlets across the City to buy ornaments on the occasion of Akshaya Tritiya on Monday, resulting in a boom in sales.
Akshaya Tritiya is considered auspicious among Hindus, to invest in the yellow metal as it is believed to bring good fortune and success.
Like every year, ornaments like rings, studs, single-pendant chains and gold coins were the most sought after.
The gold rate on Monday was Rs 2,560 per gram for 22 carat and Rs 2,748 for 24 carat. At many leading jewellery outlets, gold coins were sold at Rs 2,794 per gram and at Rs 1,39,683 for 50 gm.
Slump in price
Many jewellery shop owners claimed that people started thronging the shops a month ago when the gold rate had fallen to Rs 2,442 per gram (22 carat) and Rs 2,640 (24 carat). Gautam Chand, Managing Director, Navrathan Jewellers, said: “Around 2,000 people had booked gold jewellery in the past 10 days.
Last year, the rate of gold per gram was high (close to Rs 3,000 per gram). But this year, the rates have gone down and hence, there was a rush.”
Nagarajan, a senior citizen in Frazer Town, ensures that he buys gold every year during Akshaya Tritiya.
“Its been a tradition in our family to buy gold irrespective of the prices. Usually, we prefer buying light items such as coins.”
A few jewellery shops such as Joy Alukkas were selling exclusive diamond bangles and offering free gold coins on a minimum purchase of Rs 50,000 on Monday.
While most preferred to shop on the auspicious occasion, there were many who did not believe in shopping just on that day.
Perception
Shilpa Muniraj, a homemaker from Old Airport Road, said, “Why is Akshaya Tritiya celebrated with such fervour only in recent years? It is just a
perception among the public that buying gold during the festival brings good fortune,” she said.