During current wedding season with Akshya Tritiya falling on Wednesday, people across country made extensive purchase of gold not only in major towns but even in semi-urban and rural areas as well.
Akshya Tritiya is a pious day for purchasing gold. According to an estimate of the Confederation of All India Traders(CAIT), the gold sale on Wednesday recorded an increase of about 20 to 25 per cent business in comparison to other days.
Since morning, people thronged jewellery shops across Country. In the past ten years, traders have made good business on Akshya Tritiya. Gold quoted Rs 32,200 per ten grams and Silver stood at Rs 40,100 per kg today, an official statement said.
CAIT Secretary General Praveen Khandelwal said that in a duration of ten years from 2008 to 2018, there is an increase of 166 per cent in gold prices which indicates the fact that people still believe Gold as a most reliable and secure investment. It is a currency of the world which can be encased anytime across globe and therefore it remains an attraction for investment always.
National Convenor of Jewellers Federation of India Pankaj Arora said that as per an estimate today, gold sale was of about Rs 2,000 crore as against Rs 1400 crore per day. In past ten years people have become more inclined towards purchase of gold . Previously it was restricted to Metropolitan cities but with change of time it has extended to Metro cities and small towns and large number of shops have opened across Country. He further said that purity campaign of the Govt has contributed much in pursuing people to opt for gold purchase and that is why, now people prefer to purchase Hallmark gold.
Khandelwal said the Government should promote Gold Stock Insurance Scheme among traders and on the other hand schemes like Gold Metal Loan should be more intensified and small traders should be given representation in Gold Board. (UNI)