Gold sales surge on Akshaya Tritiya despite the heat wave

Akshay Tritiya, also known as Akha Teej, is an annual spring festival of the Hindus. It is believed that Kubera, the god of wealth and treasurer, received his riches and position on this day. Therefore, it is considered auspicious to start new ventures and buy gold or property. No wonder, city jewellery store owners are hopeful about doing good business in the next few days after a lull of two years due to the pandemic.


Rupak Saha from a city-based jewellery shop feels that it is a good time for city jewellers to make some profit.“Lot of weddings take place in the month of Boishakh. It is believed that buying gold and other precious metals on this day brings good luck. So, a lot of people are placing orders now as they want to take the delivery on Akshay Tritiya, which falls on May 3 this year. The price of gold that had gone up to `5,500 because of the Russia-Ukraine war has come down now and people are taking full advantage of it. Also, our customers want to avail different schemes/discounts available for Akshaya Tritiya,” said Rupak.

Agreeing to Rupak’s statement, Kamal Roy from another jewellery shop said, “Be it for upcoming weddings or buying gift items for the occasion, people are ordering a lot of gold jewellery now. The demand for both heavy and lightweight gold jewellery is much higher than diamond jewellery. We are hopeful that sales of silver coins will also pick up on Akshaya Tritiya.”


“This year we are expecting at least 20% rise in sales given the orders placed. Gold is the first choice for customers followed by diamond and silver jewellery. This Akshaya Tritiya, there's a huge demand for jhumkas, minakari and gold pati along with gold chains, diamond rings and diamond pendants,” said Annargha Uuttiya Chowdhuury from a jewellery shop.


The temperature in Kolkata is hovering around 40 degrees Celsius and that in a way is affecting the sales in the morning. Samar Dey, working president of Swarno Shilpa Bachao Committee and also an owner of a jewellery shop, said, “The heat wave is affecting our business in the morning and afternoon, but the sale is 20% more compared to last two years and we are hoping to do more business on May 3. Also now, our customers want to check out the designs physically rather than ordering online.”