People rush to buy gold for Akshaya Tritiya

Kadapa: Despite price of gold is rising in the bullion market, heavy rush was seen at the gold and silver showrooms in Proddatur even as Akshaya Tritiya falls on Tuesday.

Hectic business activity was seen in gold shops located in main bazaar as there are marriage muhurthams in this month.

The showrooms are offering different schemes to attract the customers in view of Akshaya Tritiya which is said to be a good occasion for purchasing yellow metal.

On Monday, the cost of a gram (24 carat) gold stood at Rs 3,285 and (22 carat) at Rs 3,037. "It will be good if we purchase gold for Akshaya Tritiya festival. We want to purchase at least a small gold ornament on Akshaya Tritiya which is an indication of Goddess Lakshmi Devi is in our house," said M Jagadeeswari of Proddatur town.

It is learnt that some showrooms are giving 8 per cent discount on all diamond jewellery. However, showroom managements have refused to comment over discount due to GST issue.

When contacted by The Hans

India, Bullion Merchant Association State vice-president B Ramamohan said that gold traders are not giving much priority to the Akshaya Tritiya as sentiment was in existence for the last 16 years in the town.