Renewable could break 8-year record on gold sales, 15-20% sales grow on the occassion of akshay tritiya
Domestic demand will have an impact on prices and for international reasons.
On April 18 this year, Akshaya Tritiya could record fast gold prices in comparison to the previous years. In Kolkata, 24 carat gold was quoted at Rs 32,300 per ten grams. In comparison to the previous years, it is the highest price of gold before Akshaya Tritiya.
Akshay Tritiya hopes to grow 15-20% sales
According to the All India Gem and Jewelery Council, Akshay Tritiya is expecting a 15-20% jump in gold sales this year. Due to the introduction of fixed prices and weddings season, traders expect gold prices to rise.
– Instead of diamond, weddings are expected to be higher in gold jewelery demand this time. This time the wedding jewelery has been well-received for taking delivery on Akshay Tritiya.
According to PN Gadgil, Vice President of India Bullion and Jewelers Association, the market is stable at the moment and in the coming days gold prices are expected to rise.
Why shopping at Akshaya Tritiya
According to Indian beliefs, shopping for gold on Akshaya Tritiya is considered to be auspicious. It is believed that buying gold on this day brings happiness and prosperity.
International events will also be impacted
– The US-China Trade War and the US attack on Syria also have the potential to increase gold prices. During this crisis, investors can be attracted to gold for safe investment.