Business

Crowd gathered in jewelery shops, expected to sell 25-30 tonnes of gold

On Akshaya Tritiya, jewelery traders are expecting a turnover of up to 30 tonnes. All India Gems and Jewelery Domestic Council (GJC) Vice President Shyam Mehra told PTI, Jewelers across the country opened their shops early and from morning There is a rapid increase in the number of customers.

Mumbai Being a public holiday, the auspicious day of Akshaya Tritiya got off to a great start on Tuesday. A large crowd is being seen here for jewelery traders. Consumers are reaching the shops to shop for jewelery even before the temperature rises due to the heat. All India Gems and Jewelery Household Council (GJC) Vice-Chairman Shyam Mehra told PTI, “Jewelers across the country opened their shops early and the number of customers has been increasing since morning. There has been a positive sentiment in the market since last 10-15 days.

The market will remain brisk even on the day of Akshaya Tritiya. We are expecting a turnover of 25-30 tonnes today. Asked whether higher prices would hinder sales, Mehra said gold prices have come down from Rs 55,000-58,000 per 10 grams to Rs 50,500 per 10 grams. The reduction in prices has strengthened consumer sentiment. Echoing similar views, Saurabh Gadgil, Managing Director and CEO, PNG Jewelers said that the customer base is showing a strong foothold and is expected to increase as the day progresses. Ramesh Kalyanaraman, Executive Director, Kalyan Jewelers said that buying gold on Akshaya Tritiya is considered highly auspicious and this tradition has maintained the positive trend in the market. Avneesh Anand, Chief Operating Officer (COO) and Co-Founder, Caratlane, said that the purchasing power of the Indian market has increased this year.

Shivam Bangwal

Shivam Bangwal is an India-based Entrepreneur. He is the Founder of Successful Startups like Youthistaan, People News Chronicle, Hitchhike TV & Branding Panther. Shivam has done his Master's in Computer Applications.

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