People thronged jewellery shops and showrooms in the city on Sunday ahead of Akshaya Trithiya which falls on Tuesday (April 21) to buy jewellery and place orders for gold and silver ornaments.
Gold was selling at the rate of Rs. 21,608 per sovereign across showrooms here and most gold traders said while they did not expect any great increase and decrease in the rates before Tuesday, the gold prices this year for Akshaya Trithiya were the lowest in the last two years.
“This year we are expecting a minimum of 25 per cent increase in sale over that of last year. While we expect more customers since monsoon rains have been favourable and farming has been successful in the district, constant supply of power has also helped manufacturing sector,” said B.A. Ramesh, Joint Managing Director of Thangamayil Jewellers.
“While the crowds have started coming from Saturday ahead of Akshaya Trithiya, many are booking ornaments and requesting delivery on the specific date,” he added.
A salesperson in a jewellery shop said lightweight models with antique designs were a big hit among the customers. “We are offering jewellery at good prices and have slashed wastage charges by nearly half owing to the competition in the market. The public too are well informed of the choices available,” he stated.
S. Bharathi, a customer at a jewellery showroom, said prices were favourable this year for the occasion which had prompted them to visit and purchase ornaments in advance.
“We ended up paying over Rs. 30,000 for 10 grams of gold last year and this year, the prices seem to be much lesser,” she said.
