Gold buyers opt for affordable alternatives amid record prices on Akshaya Tritiya

Bhubaneswar: Amid soaring gold prices, customers marked Akshaya Tritiya on Wednesday by turning to more affordable alternatives such as silver ornaments and diamond jewellery, among other options.
Gold rates soared to Rs 97,000 per 10 grams of 24-carat gold and Rs 89,000 for 22-carat. "We are seeing an increased interest in silver items. The day began on a positive note, and we are expecting better sales as the day progresses," said Nirmal Hans, a jeweller.
For 28-year-old IT professional Richa Mohanty, Akshaya Tritiya was about making smart choices. "Gold jewellery was our first preference, but with these prices, we bought a pair of diamond earrings instead. Diamond jewellery is made with 14 or 18-carat gold, so it costs less. It still feels festive, but more practical," she said.
Some buyers opted for gold coins and gold bonds. "I could not afford heavy jewellery this year, but I didn't want to miss the ritual. I bought a small gold coin to save on making charges," said homemaker Mamata Mohanty. "Since buying gold didn't fit our budget, I preferred buying some silver jewellery as a token, hoping it would bring prosperity and good fortune," said Anwesha Rath, another buyer.
Despite the subdued mood, jewellers did not give up hope. "Akshaya Tritiya purchases usually peak in the evening. Last year, when prices were around Rs 70,000 for ten grams, people said sales would drop, but they didn't," said Rutesh Shah, manager at Khimji Jewellers.
Experts said that while the volume of gold jewellery sales may drop this year, overall sales in terms of value could remain steady due to diversified buying patterns.