Plan to buy gold jewellery in Mumbai? Akshay Tritiya, which is celebrated today, may be the ideal day. For, it is not just an auspicious occasion, but a day where you will get free silver and gold coins, discounts on making charges, free electronic items. That’s not all, you could also win free cars and mobile phones in lucky draws.
Another incentive for buyers is the fall in gold prices—which reduced to Rs 29,500 per 10 grams compared to Rs 30,600 per 10 grams which it breached last week.
According to Kumar Jain, vice president, Mumbai Jewellers Association, these offers are unheard in the history of bullion market. “After demonetisation and the lacklustre Gudi Padwa festival, economic conditions have improved drastically, and we expect to have a great sale this Akshay Tritiya. Every gold trader is giving out the best offers possible to boost sales,” said Jain.
Vijay Jain, chief executive officer and director,of ORRA Fine Jewellery Private Limited, has similar views. ““As compared to the previous year, the consumer sentiment is on an upswing, and we are looking forward to a positive Akshaya Tritiya,” said Vijay Jain.
Orra has unveiled offers like 0% making charges on gold coins and gold bars, upto 50% discount on making charges of gold jewellery and up to 25% off on diamond jewellery. Even well-known brands like Tanishq and TBZ have come out with various sops to attract the buyers.
Parel-based Palak Jewellers is offering an equal amount of silver as a free gift for the amount of gold purchased by the buyers, apart from discount in the making charges.
Gold plays an important role during Indian weddings and festivals. India is the world’ largest market for gold trade, and the second largest importer.
The bullion trade sector has been going through a rough phase ever since the 45-day countrywide strike last year in March-April to protest against the levy of excise duty. After the jewellers had to make a retreat, they was faced with an unexpected hike where the gold prices breached the Rs 31,000 per 10 grams mark, forcing buyers to put off the purchase plans last year.