On Akshaya Tritiya, the second most auspicious gold buying day after Dhanteras, huge rush at jewellery showrooms all over the city is expected. For the first time, consumers in the diamond city are looking at buying platinum in a big way. The reason is that the price of platinum and gold is same.
Though jewellery business has not yet recovered from the 21-day strike against increased excise duty levied as per the Union Budget, stores are expecting large number of customers than last year as this is an auspicious day for people and Akshaya Tritiya will set the right pitch for business revival.
Jewellery stores are launching extensive advertising campaigns to lure a wider audience this year. Many stores have gone a step ahead by offering free maintenance and full cash back for jewels bought on that day, with other offers such as a 50% rate block on pre-bookings, one-year insurance on ornaments and assured gifts on purchases.
Naeem Khan, a goldsmith at Mahidharpura, said, "There is an increasing demand for diamonds as it is better preferred by youngsters. Also, many orders for uncut diamonds and platinum ornaments studded with diamonds are being placed this season." Gold, which was priced around Rs 22,500 per 10 gm last year has risen significantly by Rs 5,000 this year and the price of platinum is ruling at Rs 26,410. More and more consumers are looking to buy platinum jewellery this time.