Diamond, gold, jewellery sales rose by 25% on Akshaya Tritiya: Ahammed MP, Malabar Gold chairman

Akshaya Tritiya 2019 saw a massive demand for gold, jewelleries and diamond across shops in India, revealed Ahammed MP, Chairman of Malabar Golds and Diamonds. Ahammed said that sales increased by 25% this Akshaya Tritiya compared to the previous year. "There was a huge boost in demand for gold on the auspicious occasion of Akshaya Tritiya this year. As prices recorded a 7% drop in the past three months, There was an uptick in sales by around 25% this year as compared to the previous year,' he said.

According to Ahammed, consumer demand was specifically high for diamond, gold and studded jewellery. Stable prices and positive consumer sentiments have been key triggers in boosting our sales this Akshaya Tritiya as compared to the previous year. Going forward, Ahammed expects the positive market trend to sustain with more auspicious occasions and wedding dates in 2019 as compared to the previous year. Demand for gold is expected to be higher by 10% on a year over year basis.

The day after Akshaya Tritiya:

Mumbai -  A 22 carat gold in 10 gram and 100 gram was priced at Rs 30,910 and Rs 3,09,100 respectively on Wednesday, according to GoodReturns.in. In the same carat, 1 gram and 8 gram gold was available at Rs 3,091 and Rs 24,728. Meantime, in 24 carat, the 10 gram gold was priced at Rs 31,910, 100 gram at Rs 3,19,100, 1 gram at Rs 3,191 and finally 8 gram at Rs 25,528. 

Delhi - In the national state, 22 carat gold was available at Rs 30,860 in 10 gram, at Rs 3,08,600 in 100 gram, at Rs 24,688 in 8 gram and Rs 3,086 in 1 gram. While, the price of 24 carat was set at Rs 32,060 in 10 gram, Rs 3,20,600 in 100 gram, Rs 25,648 in 8 gram and Rs 3,206 in 1 gram. 

Kolkata - Here, a 22 carat gold in 10 gram was sold at Rs 31,130, 100 gram at Rs 3,11,300, 8 gram at Rs 24,904  and 1 gram at Rs 3,113. On the other hand, a 24 carat gold was sold at Rs 33,290 in 10 gram, at Rs 3,32,900 in 100 gram, at Rs 26,632 in 8 gram and Rs 3,329 in 1 gram. 

Chennai - The 22 carat gold here was available at Rs 30,230 in 10 gram, at Rs 3,02,300 in 100 gram, at Rs 24,184 in 8 gram and Rs 3,023 in 1 gram. Meanwhile, 100 gram of 24 carat was sold at Rs 3,29,300, however, the 10 gram, 1 gram and 8 gram in same carat was priced at Rs 32,930, Rs 3,293 and Rs 26,344 respectively. 

It needs to be noted that, the above mentioned metro cities saw rise of Rs 1, Rs 8, Rs 10 and Rs 100 each in 1 gram, 8 gram, 10 gram and 100 gram respectively compared to previous day.