Surge in gold prices is likely to put a halt on consumer on Akshaya Tritiya
Posted on: 06/May/2016 2:35:00 PM
Thousands of people are eagerly waiting for the auspicious day Akshaya Tritiya to buy gold. At this juncture, there is news that most of gold merchants re expecting negative to marginal growth compared to last year, on the back of rising gold prices, which is ruling at over Rs 30,000 per 10 grams.
Traders have attributed the firmness in gold prices to a global rally in the precious metal as well as surge in demand due to the ongoing wedding season.
World Gold Council (WGC) MD Somasundaram PR felt that there will be sharp hike in demand during Akshaya Tritiya, where wedding jewellery as well as investment-related items like coins, bars will also move fast.
