On the occasion of Akshaya Tritiya festival, this year the business has decreased by about 50 percent as compared to last year. Because the biggest reason for this has been the high prices of gold.
Image Credit source: TV9
On the occasion of Akshaya Tritiya festival, people across the country made huge purchases of gold. After noon today, when the customers came out of the house to buy gold, a huge crowd of people was seen at the shops of jewelers in the bullion markets. Despite this, the business in gold remained less than expected. Because this time customers have shown their interest in buying more gold coins, coins and small items.
Yogesh Singhal, chairman of the Jewelers and Bullion Association, told TV9 Digital Hindi that this year on the occasion of Akshaya Tritiya festival, the business has been reduced by about 50 percent as compared to last year. Most of the customers have bought gold coins, coins and small items. Along with this, a business of Rs 250 crore has been estimated in Delhi alone. That is, on Akshaya Tritiya only gold worth 250 crores has been sold in Delhi.
Price became the biggest reason
According to the chairman of the Jewelers and Bullion Association, the reason for low business in gold has been attributed to inflation. Because this time the cost of 10 grams of gold has been more than 60 thousand rupees. Which was made around 50 thousand last year. Due to the high prices of gold, customers have not made much purchases this time. That’s why this time on the occasion of Akshaya Tritiya, there has been less business in gold.
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Business did not increase even after the offer
On the occasion of Akshaya Tritiya, big jewelers in many parts of the country have also given many offers to woo the customers. Many jewelers have also given a discount of 15 to 20 percent on the making charge for the purchase of gold by the customers. Despite this, customers have not paid much attention towards buying jewellery. Because the customers got to see more expensive than last year. But because of the festival, people thought it appropriate to buy gold coins, small items. That’s why the business was less as compared to last year.
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Benefits of buying digital gold
On the other hand, some customers have shown interest in buying digital gold as well. Because there are some ways of investing in gold digitally. Through which you can invest in gold in small portions anytime and anywhere with the convenience of digital access to the commodity. But in this you have to pay attention that you may also have to pay tax on the income from digital gold.