1600 kilos of gold sold on Akshaya Tritiya day
Posted on: 10/May/2016 2:23:22 PM
Yesterday 1600 kilos of gold were sold throughout Tamil Nadu on the occasion of Akshaya Tritiya day. The gold merchants have mentioned that there was a decline in sales of gold by 30 percent because of the election crackdown. Akshaya Tritiya falls on the third Tithi (lunar day) during the Tamil month Chithirai. Accordingly the Akshaya Tritiya began on 9.01 PM on 8th and came to an end yesterday night 7.10 PM.
Because of this all the jewelry shops were kept opened throughout the night on 8th. The shops were opened very early in the morning. There was huge crowd in the jewel shops. Apart from this there was also special discount in making and gold loss charges. There was huge crowd in Chennai jewelry shops in places like T Nagar, Purasawalkam and Washermanpet. There was more crowds yesterday compared to normal days. Last Saturday, one sovereign of gold was sold for Rs 22984. Yesterday the price came down by Rs 240 and was sold for Rs 22744.
Jayanthilal Challani, president of the Madras Jewellers and Diamond Merchants Association, said many customers hesitated to carry cash due to strict implementation of the model code of conduct.
There was 30 percent decline in gold sales when compared to last year. Though there was heavy crowd in the shops, people purchased lesser amount of gold. On occasion of Akshaya Tritiya day, 1600 kilos of gold were sold throughout Tamil Nadu. Last year 2500 kilos of gold were sold. In Chennai there will be sales of 300 kilos gold on normal day. Gold merchants said that on Akshaya Tritiya day only 500 kilos of gold were sold.
