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Gold jewellery worth Rs. 10000 Crores sold on Akshaya Tritiya
Posted on: 19/Apr/2018 11:14:08 AM
As hordes of customers bought gold jewellery items on the auspicious day of Akshaya Tritiya yesterday (Wednesday, 18th April), on this single day, around 30000 kg of gold jewellery items worth Rs. 10000 Crores were sold.
Tamil Nadu is leading state in the country on the use of gold. As there is a long time traditional belief that buying gold on the day of Akshaya Tritiya will bring prosperity and wealth to the family, people plan and prefer to buy gold on this day.
During the Akshaya Tritiya last year (2017), around 25 kg worth of gold jewellery worth Rs. 8000 Crores were sold.
This year (2018), many customers registered for the purchase of gold jewellery items by the start of April. Yesterday, being the day of Akshaya Tritiya, the shops were opened quite early in the morning.
The customers who had already registered by paying money in advance just showed the receipts and bought their choice of gold jewellery items.
Those customers who had joined the long-term gold saving schemes in the shops closed them and bought new jewellery items.
Apart from the Chennai Metro City’s premier trading centre of T. Nagar, vast crowds were jostling in several urban/suburban areas throughout the city including Anna Nagar, Chromepet, and Tambaram.
This trend of huge crowds was observed in other districts of the state as well. At the end of the day, as compared to the previous year, the sales of gold jewellery items this year 2018 was up by 20%. Thus, on a single day yesterday alone, 30000 kg worth of gold jewellery was sold.
A kg of gold costs Rs. 32 Lakhs. So, the worth of yesteray’s sales is estimated at Rs. 9600 Crores.
The President of the Chennai Gold and diamond Jewellery Traders’ Association, Jayanthilal Challani, informed that this year’s sales of gold were tremendous.
Last year (2017), the auspicious day of Akshaya Tritiya fell on 28th April. On that day, the cost of 22-carat gold was sold at Rs. 2778 per gram and a sovereign of gold was sold at Rs. 22224.
Yesterday, 1 gram of gold was sold at Rs. 2992. One sovereign of gold was sold at Rs. 23936.
This means a rise of Rs. 214 per gram of gold and Rs. 1712 per sovereign of gold.
Still, the people did not mind too much about this price increase and went ahead to buy gold jewellery items as a tradition.
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