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Pricey gold fails to attract buyers in tricity on Akshaya Tritiya

Jewellers across the tricity had a lean day as a trickle of customers visited jewellery shops.
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The auspicious occasion of Akshaya Tritiya could not solicit the tricity residents to buy gold, courtesy prohibitive gold prices pervading globally. Jewellers across the tricity had a lean day as a trickle of customers visited jewellery shops today.

The 24-carat gold weighing 10 gm priced at Rs 98,500 and 22-carat yellow metal at Rs 92,100 proved too much for buyers. Jewellers tried to offset the prohibitive prices with numerous offers, but it could make a little impact on prospective buyers. Many jewellers had taken special permission to open their outlets at 8:30 am today but it remained a wild goose chase.

Experts said the tense situation on borders too could have been a consideration for investors as they thought it better to have liquidity.

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“Some jewellers gave offers on diamonds above Rs 1.5 lakh, wooing customers with gold coins. It was just a marketing gimmick,” said a Sector 22-based jeweller. Sarabjit Singh Paras, a jeweller from Mohali, said, “Gold may be expensive, but its price is likely to go up further.”

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