Akshaya Tritiya is considered auspicious for buying gold.
In order to increase sales on the occasion of Akshaya Tritiya, jewelery vendors are offering attractive discounts on the price of gold and jewelry fees. Jewelry vendors are expected to do better demand this year despite rising prices. According to PTI news, major brands like Tanishq, Senco Gold, MP Jewelers and PC Chandra Jewelers have announced a variety of discounts to take advantage of the opportunity. As you know, Akshaya Tritiya is on 30 April. Akshaya Tritiya is considered auspicious for buying gold.
Prices may increase by five to seven percent
According to the news, Anargha Uttia Chaudhary, director of Anjali Jewelers, said that we hope that the business on Akshaya Tritiya will be good as consumers in gold are more than ever. He said that to capitalize on the craze of people towards gold, we are offering discounts on the fee charged to make jewelery to make shopping experience more exciting for customers.
The price of 22 carat gold in Kolkata is around Rs 9000 per gram, which is more than 30 percent of the previous year. Chaudhary said that if the current trend continues, gold prices may increase by five to seven percent in short term. Prices are not visible immediate improvement and market instability is expected to continue in 2025. Chaudhary urged people to consider the purchase of gold at this time.
Purchase quantity declines due to rising gold prices
Suvankar Sen, MD and Chief Executive Officer (CEO) of Senco Gold, said that due to rising prices of gold, there has been a decline in the purchase quantity, but the perception of shopping in the auspicious time is expected to be strong. However, the company is considering several wildfire to maintain affordable prices. He said that we are trying to reduce their cost by 25-30 percent to reduce the use of pearls and nasal gold in marriage jewelery.
Gold boom in investment in ETF
According to the report by Ecra Analytics, investment in Gold Exchange-Traded Funds (ETF) in February 2025 increased by 98.54 percent to Rs 1,979.84 crore on an annual basis, compared to Rs 997.21 crore in the same month. During the same period, the net property (AUM) under management for gold ETFs was almost doubled from Rs 28,529.88 crore to Rs 55,677.24 crore. Gold ETF offers an attractive option for investors who want to invest in gold without complications to purchase gold physically. Investors’ interest in silver is also increasing.
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