How has been the gold jewellery sales in Akshaya Tritiya on 04th May?

Amidst a tepid gold selling season, the festival of Akshaya Tritiya appears to have come as a blessing in disguise for Indian jewellers. Even the large jewellers like Titan had faced major headwinds on the sales and profit front, so smaller jewellers were obviously impacted negatively. It is estimated that sales worth Rs.15,000 crore got done on Akshaya Tritiya day.

This was disclosed by the Confederation of All India Traders (CAIT). A sharp fall in gold prices ahead of Akshaya Tritiya helped prop up sales. Akshaya Tritiya is considered an auspicious occasion to buy gold and silver. Smaller jewellers still reported lukewarm sales. Between 2019 and 2022, 24-Karat gold surged by 46% and that is taking toll on gold demand.