Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-05-09

Gold Rush in Akshaya Tritiya

There was a huge rush for gold Friday, with buyers thronging jewellery shops after prices of the precious metal dipped by around Rs.500 per 10 gm, coinciding with the auspicious occasion of Akshaya Tr

There was a huge rush for gold Friday, with buyers thronging jewellery shops after prices of the precious metal dipped by around Rs.500 per 10 gm, coinciding with the auspicious occasion of Akshaya Tritiya.

 

The Akshaya Tritiya festival is one of the two most auspicious days of the year to buy gold. Hindus believe they can get lasting prosperity by buying precious metals on the day. The other festival is Dhanteras before Diwali in October or November.

 

"The response is just overwhelming, we are catering to a huge rush at all our showrooms across the country. The mood is upbeat, It seems that those who had not even planned have also turned up today looking at the dip in the prices," Balram Garg, managing director and chief executive of the Delhi-based PC Jewellers' Group, told IANS.

"With such a demand, we expect the business today to rise by 30 to 40 percent as compared to Akshaya Tritiya last year," he added.

 

Gold, which was retailing at Rs.22,300 per 10 gram a day before, fell to Rs.21,800 Friday. Silver prices too slipped to Rs.56,000 per kg compared to Rs.60,000 Thursday.

 

"There is more demand for the daily-wear and lightweight jewellery but people who are interested in investments are buying gold coins," said Garg.

 

Shops are also offering freebies and discounts to attract more and more customers.

 

"We are offering one gold coin with the purchase of diamond jewellery worth Rs.25,000 and half grams of gold with purchase of Rs. 40,000 worth gold jewellery," Garg added.

 

"We have had a pre-booking of almost Rs.10 crore in 17 showrooms of ours across the country."

 

Related opportunities
  • Others Food Service
    About Us: The Fresh Meat Market is an online platform as..
    Locations looking for expansion Uttar pradesh
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required 100
    Franchise Outlets Less than 10
    Franchise Type Unit, Multiunit
    Headquater Noida Uttar pradesh
  • About Us: Mandalas Impresa - A vision of understanding the culinary..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • After School Activities
    About Us: We deal with the schools in conducting National level..
    Locations looking for expansion TELANGANA
    Establishment year 2010
    Franchising Launch Date 2012
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Dharmasagar TELANGANA
  • Casual dine Restaurants
    About Us: As the name suggests, Dhadoom is a fun brand..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts