Gold prices may dim Akha Trij sales | Ahmedabad News

Original Source    2018-04-10 00:04

AHMEDABAD: After a relatively slow period of business in March and a dull start to April, jewellers have their hopes pinned on Akha Trij or Akshay Tritiya which is considered auspicious for gold purchases.
However, with gold prices hovering close to Rs 32,000 per 10g, some eight days ahead of Akha Trij which falls on April 18, jewellers are a little concerned.

Manoj Soni, an Ahmedabad jeweller, said: “Akha Trij is a good muhurat for gold and vehicle sales. In line with last year, we hope sales will be good and are preparing accordingly.

Some customers have already paid token amounts and booked orders for the auspicious day.” However, he said prices continue to remain a concern.

Gold prices settled at Rs 31,650 per 10g on Monday. “Prices are on the higher side and that is the primary concern. Consumers may avoid making big purchases,” said Zaveribhai Zaveri, another Ahmedabad jeweller.

To woo customers, a number of jewellers have been rolling out discount offers too. “We’re introducing some discount offers for the week to help boost sales on Akha Trij,” Zaveri said.

Analysts said that there is no likelihood of the prices coming down.

“With the ongoing US-China trade war, the prices of the yellow metal may not come down any time soon. This is because the international prices of gold have remained on the higher side and further ahead, prices will only go up,” said Haresh Acharya, national secretary, Bullion Federation of India.

Original Source

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