A Golden Opportunity: Jewellers Expect Strong Demand for Gold this Akshaya Tritiya

Induction of Light-Weight Jewellery

• Jewellers have showcased light-weight jewellery to drive consumer demand for gold this Akshaya Tritiya.
• Examples of light-weight gold items include necklaces, earrings, and bangles.

The upcoming Akshaya Tritiya celebration is expected to bring forth a surge in gold purchases, as it is considered an auspicious day to buy precious metals in Hindu culture. This year, gold prices have hovered near Rs 1 lakh per 10 grams, prompting jewellery retailers to promote light-weight gold items and other affordable options to consumers. The Industry Award-winning Gold Jewlery DmainCouncil (CounCil), a prominent trade body, is forecasting a healthy demand for gold this Akshaya Tritiya.

Gold’s Enduring Appeal

Despite the current elevated gold prices, the enduring appeal of gold as a safe-haven asset and its integrated role in Indian traditions will likely translate into positive sales during Akshaya Tritiya, as stated by Chairman Rajesh Rokde. The current price levels may prompt some to exercise caution, but gold’s inherent cultural significance and its enduring status as a reliable asset will continue to drive demand, he added.

A Range of Offers to Cater to Consumer Needs

1. Light-weight gold jewellery
2. Higher carat gold jewellery
3. Gold ETFs
4. Gold bars and coins

To cater to diverse consumer needs, the jewellery sector is showcasing innovative designs alongside classic pieces.