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Akshaya Tritiya expected to bring rise in gold jewellery sales : Read more
Company: »      News Date: 2010-03-16      « Back

Stabilised gold prices and rising consumer confidence may push sales

As reported in a leading media, sale of gold jewellery is likely to rise in the Akshaya Tritiya festival arriving on May 16, 2010. Akshaya Tritiya is an Indian festival celebrated as the augmentation of auspiciousness for the year ahead. Gold has always been inherent to Indian festivals for its symbolism of auspiciousness, and prosperity.

This year, the Akshaya Tritiya festival is likely to bring around 25-30 percent increase in sale of gold jewellery, as compared to the corresponding period a year ago, reports add. The expected increase is being attributed to a rise in consumer sentiments, gold prices more or less stabilising at INR 16,500 to 17,000 per 10 grams, and rise in consumer confidence to buy jewellery, reports say.

Gold, in the international market stood at USD 1,103.80 an ounce, reports say. While in Delhi, India, gold was trading today at INR 16,463 per 10 grams on the futures market, and traded at INR 16,745 per 10 grams on the spot market.

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