Light-weight jewellery, other items to drive gold demand

With gold prices hovering near ₹1 lakh per 10 grams, jewellers expect light-weight jewellery and other items to drive consumer demand this Akshaya Tritiya, which is considered an auspicious day to buy precious metals.

- PRESS TRUST OF INDIA

Akshaya Tritiya, which is celebrated on the third day of bright half of Hindu calender month Vaisakha, falls April 30 this year.

"As we approach the auspicious occasion of Akshaya Tritiya, the gold market is buzzing with anticipation. Akshaya Tritiya holds immense cultural significance in India, traditionally marking a surge in gold purchases. This year, despite the elevated prices, we anticipate a healthy demand driven by light-weight items," All India Gem and Jewellery Domestic Council (GJC) chairman Rajesh Rokde told PTI.

Gold Friday traded weak at ₹95,075 per 10 grams on MCX, as Comex gold continued to face resistance near the $3,330-an-ounce-mark.