PTI mumbai

Gold and silver purchases for Akshaya Tritiya gathered momentum on Wednesday afternoon, with jewellers expecting sales volumes to remain steady despite record high prices. The All India Gem and Jewellery Domestic Council (GJC) anticipates a 35 per cent jump in value terms compared to last year. Gold was trading at Rs 98,550 per 10 grams (including taxes) in Delhi on Wednesday, up from Rs 72,300 during last year's festival.

Buying precious metal on Akshaya Tritiya is a tradition widely followed in south India that has gradually spread across the country with increased awareness. "We expect gold sale to remain steady at last year's level of 20 tonnes. However, in value terms, we see 35 per cent increase in gold sale today," GJC Chairman Rajesh Rokde told PTI. 

Rokde noted that even consumers aged 25-40 are buying gold and silver, an emerging trend amid sharp rises in precious metal rates. "Despite the elevated gold prices, we witnessed strong demand for gold jewellery at our stores across the country this Akshaya Tritiya,” said MP Ahammed, Chairman, Malabar Group.