Pricey gold fails to attract buyers in tricity on Akshaya Tritiya

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.

“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.”