After witnessing great slump due to Covid crisis for the last two years, the bullion market across the country was finally full of people and it was estimated that on Akshaya Tritiya,the jewelry business worth 15 thousand crores of rupees happened today bringing huge smiles on the faces of the traders.In their effort to woo the customers on Akshaya Tritiya, the jewelers made light jewelry which did good sale and was very much in demand.” Said the national Secretary General of Confederation of All India Traders (CAIT), Shri Praveen Khandelwal and Shri Pankaj Arora, national President of “All India Jewelers and Goldsmith Federation”, the apex organization of jewelry trade of the country.
Both Shri Khandelwal and Shri Pankaj Arora said that after a long gap of two years, the gold and silver is in huge demand and is sold with a lot of excitement across the country.Akshaya Tritiya is considered to be a very auspicious day in India and buying gold and silver on this day brings prosperity in home and business, and that is why this day is also considered very auspicious for gold and silver business. According to mythological beliefs, on this day Lord Shiva blessed Lord Kubera to be a god of treasure and Goddess Lakshmi to be the goddess of wealth.
Mr. Khandelwal and Mr. Arora said that three years ago in 2019, the price of gold and silver on the occasion of Akshaya Tritiya. Gold was then Rs 32,700 per 10 grams and silver was Rs 38,350 per kg. At the same time, this year, five days before Akshaya Tritiya, gold is estimated to be around Rs 53 thousand per 10 grams and silver around Rs 66,600 per kg. However, in the past two years , the bullion shops across the country were not able to do any significant business on Akshaya Tritiya.
CAIT National President Shri BC Bhartia informed that in the first quarter of 2021, 39.3 tonnes of gold was imported into India in the form of gold bars and coins, whereas in the first quarter of 2022 it was increased to 41.3 tonnes, while the import of gold jewellery in the first quarter of 2021 was 126.5 tonnes which remained only 94.2 tonnes in the first quarter of 2022, which shows the increasing trend of people investing in the form of gold bars and coins.
Mr. Khandelwal and Mr. Arora also said that in 2019, the gold worth Rs 10 thousand crore was sold across the country on Akshaya tritiya. But, in 2020, due to the lockdown in the month of May on Akshaya Tritiya, the sale of gold was only 5 percent i.e. around 500 crores. The business during Akshaya Tritiya festival in lockdown for two consecutive years faced a massive fall down which broke the backbone of the jewelry business of the country , but now in the current year, the bullion trade of the country has recovered from the corona epidemic and today a lot of enthusiasm was seen among the customers in the gold markets across the country.Today in large numbers people across the country thronged the jewellery market and booked the jewelry which will be delivered in the next two-three days!
Chairman of the Vedic Committee of CAIT and the country’s leading astrologer Shri Acharya Durgesh Tare said that according to Indian astrology calculations, this time an auspicious position of five Mahayoga has been created with five planets. It includes Kedar, Shubh Kartari, Ubhayachari, Vimal and Sumukh. Due to the combination of Tithi and Nakshatra in 24 hours, the whole day of Akshya Tritiya will be auspicious for shopping, investment etc. Such a rare coincidence will not happen for the next hundred years. According to astrological calculations, today being the Tritiya Tithi on Tuesday, Siddhi Yoga is also formed and success in every work done in this yog is certain.
