Gold jewellers make brisk sales on Akshaya Tritiya

MADURAI: The belief of buying gold on the auspicious day of Akshaya Tritiya, brought many people to jewellery shops, both big and smaller shops, thereby sellers making a brisk sales on Monday.
The jewellers said the business was very handsome this year against their expectations. "The gold sale is good which is against our prediction that poor monsoon may curtail salethe buying power of the people
.As the gold prices also crashed a few weeks ago, people were on buying spree, and we thought it may reduce rush on Akshya Tritiya," said S Sivashankar of Sri Krishna Nagai Maligai in Madurai. "There is no significant change in the sales trend when compared to last year," he added.
However, some of jewellers said the sales were much higher last two years, when the gold price was at peak. "The fall in gold prices has encouraged the people to buy gold in this season. We can certainly say the gold sales are higher at this year's Akshaya Tritiya," said S M R Rajasekar of SMRR jewellers.
M Balasubramanian, president of Tamil Nadu Jewellers and Bullion Merchants Association in Madurai, said, "Not only Madurai, the gold sales this day is very good across the state".
Diamond sales also peaked this year, and merchants claimed that the business is good as well for Akshaya Tritiya
. "Diamonds are also sold equally well this year as the awareness on precious stones have increased. There were many myths associated with diamonds but people started realising that diamonds too can become a good investment," said B Sivakumar of TenX Diamonds Spot in Madurai.
The real motivation comes from the belief that buying gold on Akshaya Tritiya multiplies it. "I bought jewels on this day last year, and I was able to buy more gold ornaments in the period. Hence, I have decided to shop gold this year too," said S Maheswari of Chokkikulam, a customer.