Gold sales shine on Akshay Tritiya
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Bowbazar was decked up since morning, and morning showers brought relief to the store owners. In the evening, the usual Akshay Tritiya crowd was present at almost 350 stores lined up on both sides of BB Ganguly Street. The soaring price of gold, which touched the Rs 1 lakh per 10 gm level nine days back, came down to Rs 95,510, adding to the positive buying sentiments. On Wednesday, 24-karat gold was sold at Rs 95,510 per 10 gm, while 22-karat gold was sold for Rs 90,751 per 10 gm.
"We were not sure of the footfall this year initially as historic high gold prices created confusion among buyers. However, it started picking up as the day progressed," said Rupak Saha, zonal member of the Gem and Jewellery Trade Council of India. "It seems they did not want to miss the opportunity of availing genuine discounts during Akshay Tritiya. High prices have eventually restored their confidence in gold," said Vinay Bamalwa, director of Nemichand Bamalwa Jewellers, Salt Lake.
Customers flocked during auspicious windows like Mahendra Yog (1.42 pm to 3.25 pm and 9 pm to 10.30 pm) and Amrit Yog, which began at 6.45 pm. "We will see a value growth this year, but compared to last year quantity is impacted," said Suvankar Sen, MD & CEO, Senco Gold Ltd.
"The demand for gold is always strong as it is a time-tested metal," said Anarghya Uttiya Chowdhury, partner of Anjali Jewellers. "Diamond is becoming equally sought-after and this trend is going to increase ," said Shubadip Roy of Bengal Jewellery.
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