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Gold rush for Akshaya Tritiya!

Posted May 6th, 2019, 10:04 AM IST

Gold rush for Akshaya Tritiya!

Akshaya Tritiya happens to fall on 7th May this year, and everybody’s looking forward to purchasing gold to mark the auspicious occasion. Jewellers have reported the demand to be higher this year than it was last year.

Abhishek Chand of Kalasha Jewellers explained how the pre-booking option and the drop in gold prices were helping the business. “Gold rates have dropped by nearly 10 per cent in the last week. In addition to that, a large number of dealers are allowing their customers to make advance bookings and offering to deliver the ornaments on Akshaya Tritiya or as per the buyers’ preferences. Additionally, most dealers are offering to stick to the booking rate even if gold prices end up rising on the day of delivery. Here’s the best part, though — if gold prices happen to drop on the day of delivery, then the amount payable will be adjusted accordingly,” he said.

He further said that they had been receiving orders from abroad as well. “We’ve also been receiving an enormous number of overseas bookings. They basically reach out to us on video and select their favourite pieces, which we ship to their location. Most such orders are coming in from the US and Australia,” Abhishek said.

Gopi Krishna of Manepally Jewellers says the demand this year has grown. “The demand is quite high this year, gold rates have dropped, so a large number of advance bookings have been coming in as well.”

However, the popular speaker Brahmasri Chaganti Koteswara Rao, who is very well versed with the Puranas, had said in a number of discourses that he considers investing in gold to be a misinterpretation of the whole point of the festival. And yet people buy gold.

Gopi Krishna begs to differ. “Nowhere in the Puranas has it been stated whether or not it is acceptable to buy gold on Akshaya Tritiya. It is an auspicious day, so one may choose to either donate or buy something nice for themselves or do both. Many regard gold as a tribute to Goddess Lakshmi, which is why they purchase ornaments on the day of the festival.” Vishnu, an executive at Lalitha Jewellers, shared another interesting input.

“Not just Hindus, but even Christians and Muslims seem keener than usual this year to buy gold ahead of the festival. They are primarily inquiring about gold coins relevant to their communities. We have taken their orders down and our main branch is currently preparing said coins,” he said.