Sales of jewellery and gold items remained sluggish on the auspicious Akshaya Tritiya day on 22 April as high prices of gold dampened the festive demand, according to media reports. Jewellers are expecting a nearly 10 per cent decline in sales volume on Akshaya Tritiya this year compared to last year as gold prices have zoomed around 20 per cent since last year and customers are either making token purchases or going for lightweight jewellery. Akshaya Tritiya day is considered auspicious for buying gold, jewellery and valuables. "We have been getting positive responses on consumer footfalls this year. In fact, reports from the southern region have been encouraging and people are mostly going in for light-weight jewellery items ranging from 2-8 grams. Hallmarking has also been a positive boost to sales," said All India Gem and Jewellery Domestic Council (GJC) Chairman Sayam Mehra.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
