Hindus buy valuables including gold and silver on Akshaya Tritiya, which falls on Tuesday this year, in the belief that it will bring luck and prosperity. Others are giving freebies such as Kerala-based Kalyan Jewellers, which said it is giving away gold coins for free to some customers. “There are reports of robust pre-Akshaya Tritiya sales in the markets. A higher sales volume is expected as compared with last year and in percentage terms, we can expect sales growth of around 15-20 percent." Purchases in the second-biggest gold buying nation may be boosted this quarter because of the traditional wedding season purchases, the auspicious Akshaya Tritiya festival and rising crop prices, the World Gold Council said last week.

Source: Mint May 07, 2019 05:48 UTC