‘Akshaya Tritiya’ triggers rush for gold

Updated - November 16, 2021 10:36 pm IST

Published - May 13, 2013 02:28 pm IST - TIRUPATI:

Women making purchases at a jewellery shop on the occasion of‘Akshaya Tritiya’ in Tirupati on Sunday. Photo: K.V. Poornachandra kumar

Women making purchases at a jewellery shop on the occasion of‘Akshaya Tritiya’ in Tirupati on Sunday. Photo: K.V. Poornachandra kumar

Come ‘Akshaya Tritiya’, the women get an opportunity to make auspicious purchases. The festival falling on a Sunday this year came in handy for many to throng the jewellery outlets, which made brisk business.

As per the Hindu almanac, the ‘Tritiya’ this year begins from Sunday afternoon and ends Monday afternoon, which introduced an element of uncertainty among the buyers. However, jewellers see it as an opportunity to rake in brisk business on both the days.

Triggers sale

Though a relatively-recent phenomenon, the belief triggered heavy sale of golden ornaments.

Price no factor

Though the recent fall and rise of gold price triggered heavy purchases a fortnight ago, the sentiment remained largely insulated from the ‘price swings’.

Many banks and post offices too have jumped into the bandwagon of late, selling assay-certified pure gold coins in tamper-proof packs.

Telemarketing

The private banks have gone a step ahead by ‘tele-marketing’ the sentiment to the privileged customers, i.e., the high net worth individuals, besides delivering the gold coins at their doorsteps.

“The demand is quite good this year and the sales are likely to surpass the last year’s figures,” says a buoyed B. Nagaraj, branch manager of GRT Jewellers, Tirupati.

Property purchase

Usually, there is mad rush for purchase of gold or silver ornaments, but this year saw a rise in purchase of lands too, i.e., in the form of paying advance for apartments or booking plots.

Enquiries

“We have received quite a good number of enquiries last week for our mega venture ‘Advaita Grand’, with many of them expected to be closed by Monday,” explained the realtor Peram Haribabu, who recently launched his venture at Thukivakam on the Chennai highway.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.