Festivals

Akshaya Tritiya: Why it's a good time to buy & wear gold

World Gold Council celebrates Akshaya Tritiya, the most auspicious day in the Hindu calendar, to purchase gold. This year it will be celebrated on May 17. We tell you of the significance and what the prices of gold are in the market.



According to Vedic astrologers, Akshaya Tritiya is one of the most important days of the Vedic calendar. On this day, the Sun and Moon are simultaneously at their peaks of brightness. It is believed that buying and wearing new gold jewellery on Akshaya Tritiya brings prosperity and success to an individual and his family. As Akshaya Tritiya is an ideal and very auspicious day to purchase gold jewellery and valuables, World Gold Council will be running several promotions and offers around the festival time at leading retailers across the county to celebrate the occasion.

Speaking on the occasion Mr. K. Shivram, Vice President, World Gold Council said, “World Gold Council along with the Gold Industry is all set to celebrate the auspicious period of Akshaya Tritiya with consumers across the country. Gold being intrinsic to our lives carries a divine auspicious significance during festive occasions, apart from being a safe and secure investment. The festival redefines Gold in all its facets from jewellery adornment to portfolio diversification. Thus it’s an apt time to buy, wear and celebrate gold.”

Across the country, gold retailers will be running gold jewellery shopping festival, jewellery Mahotsav, launching new gold jewellery designs and collections to commemorate the occasion of gold buying and wearing on the occasion of Akshaya Tritiya. For example, a number of jewellery stores in the South are undertaking various promotions, such as, Joyalukkas who are offering 5 gold coins of 200gms each with every booking of gold worth Rs 1 lac, similarly, Malabar Gold Jewelers are offering a free gold coin with every purchase or booking of 20gms of gold jewellery. Prince Jewelers is offering Rs 600 off per sovereign on gold jewellery and GRT Jewellers are offering Rs 45 less per gram and new Akshaya Thritiya Collections from Bhima. Tanishq and Gold Plus have certain exclusive offers from free gold coins to reduced making charges.



World Gold Council together with India Post has launched a new gold medallion with India Post logo especially for the Akshaya Tritiya festive season. Consumers can avail a 6% discount on purchase of these medallions during the Akshaya Tritiya period.

People believe that the purchases made during the auspicious occasion of Akshaya Tritiya bring prosperity and luck to the household. Walk in with gold jewellery on the day of Akshaya Tritiya and make your household sparkle with posterity.

World Gold Council together with India Post has launched a new gold medallion with India Post logo especially for the Akshaya Tritiya festive season. Consumers can avail a 6% discount on purchase of these medallions during the Akshaya Tritiya period.

People believe that the purchases made during the auspicious occasion of Akshaya Tritiya bring prosperity and luck to the household. Walk in with gold jewellery on the day of Akshaya Tritiya and make your household sparkle with posterity.

Gold Prices
According to the Business Standard, steady rise in gold prices may affect the way  the way consumers are buying gold days before Akshaya Tritiya, but a lot of retailers are confident this will change closer to the date. The Managing Director of C Krishniah Chetty & Sons, Vinod Hayagriv is going by the general trend this year which has been stronger in terms of gold being purchased and expects upto a 20% jump in store sales this season. 

The price of gold is hovering around Rs 17,000 for every 10 gms and jewellers believe large sales may be unlikely. But are banking on consumers buying gold as  as an investment option.

The World Gold Council  remains positive about demand for gold in the upcoming festive season on the back of firm prices that have bolstered consumer confidence.“Investment sentiments in gold have always been strong, especially in our country, since consumer and investors recognise it as a time-tested safe asset class and currently it is one of the best performing asset classes. At a global level also, since the 2008 economic turmoil, investor confidence in gold as an asset class has increased to a great extent and it continues to do so,” said WGC Middle East and India managing director, Ajay Mitra.


For further information visit www.gold.org
Tags: gold prices, world gold council, gold, akshaya tritiya, buy, auspicious, hindu calender, gold retailers, gold jewellery

6 comments

Naveen Kumar May 13th, 2010 03:33 PM

This is the good way for Business people develop there business,,,, Buz they know ,,our indians will encourage this kind of activities 

moorthy May 12th, 2010 09:34 PM

Have a lot of things some expects also

kishore May 12th, 2010 02:38 PM

Quote: "For example, a number of jewellery stores in the South are undertaking various promotions, such as, Joyalukkas who are offering 5 gold coins of 200gms each with every booking of gold worth Rs 1 lac, "
 
5 x 200gms = 1 kg
1 gm = Rs.1600
1kg = 1000gm = Rs. 16,00,000 = 16 Lakhs..
 
Just for spending 1lac, they are giving 16lakhs... This looks like a great and never-available-again deal :)

majella May 12th, 2010 01:27 PM

I LOVE GOLD so dis might b a reason 4 me 2 buy gold...who care if its gud o a bad day,,,im happy as long as i get my gold jewelery

deepa May 12th, 2010 01:20 PM

This is another way of fooling poor indians which may bring prosperity to gold sellers.

ashui May 12th, 2010 10:12 AM

nice emotional brain washing of Indian people with articles like these. 

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