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Gold prices glitter as demand shines

MUMBAI: Jewellers across the city are doing brisk business in the run-up to the auspicious day of Akshay Tritiya on Friday. Gold prices invariably attain new records on this occasion and this year is no different. Ten grams, or a tola, of yellow metal was selling for Rs 22,355 on Wednesday and, experts say, the prices could touch around Rs 22,700 by Friday.

Akshay Tritiya or Akha Teej is considered the most auspicious wedding day in the year by Hindus, owing to the belief that any work that is commenced this day comes to fruition.

Typically, wedding purchases are completed a few weeks beforehand and the buyers that crowd the counter on the lucky day are ‘mahurat’ buyers or those looking to make an auspicious investment. Even among these, a large segment consists of customers who have already placed their orders and merely take delivery later.

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