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Akshaya Tritiya sales rise up to 15% this year
Posted on: 18/Apr/2018 12:25:53 PM
Jewelers estimated a 10 to 15 percent increase in sales on the auspicious day of Akshaya Tritiya. The current rate of 24 carat gold is Rs 31,000 which is comparatively higher than the last year charts.
The gold rate witnessed a tremendous increase in rate for the past ten months. Although the gold rate hit a peak out of all previous money charts the sales in the Akshaya Tritiya day are expected to produce a 15 percent rise compared to the last year’s sales.
People opting out from traditional jewels to light weight jewelry which is cost effective and also trendy in terms of fashion. Many Investors and public are interested in this type of light weight gold ornaments for this Akshaya Tritiya season, as the day confirms the sentiments of flourishing wealth buying jewels on the day.
Many online portals selling jewels observed a steady increase in sales and especially Diamond jewels are also fast moving when compared to last year sales. This increase in rate is owed to stabilization of prices after a heavy blow of GST regulations that came as a shock for both sellers and people to buy jewels at favorable rates.
Gold retailers like NAC Jewelers, Malabar Gold and Kalyan Jewelers reported the increase in sales and uniformly mentioned the reason as the rates are being normalized after the negative phase caused by Demonetization and GST impositions. They also reported many token purchases of the light weight jewels and other traditional wedding purchases in this year’s Akshaya Tritiya.
