The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 13th April 2007 (5387 views)

The important Hindu festival of Akshaye Trithya is coming up on April 20th and local jewellers in India are hoping to use the time to boost sales of gold jewellery.

Celebrated throughout India, Mauritius, Nepal and Sri Lanka the festival is traditionally a time of buying gold because it is thought to bring prosperity and good luck upon households who by gold on that day.

AV Joju, from popular retailer Alukkas Jewellery, told the Gulf Times: "Last year Akshaye Trithya festival brought in a lot of customers who had deserted us because of hardening prices.

"Since the festival is considered auspicious for buying gold, there was demand anyway. Incentives such as gold coins and pendants only fuelled demand."

Many jewellers including Alukkas are offering special promotions during the three day festival which they hope will entice locals to buy. High-end mobile phones are free gifts with some purchases while other shops offer diamond-studded pearl pendants.

The festival celebrates the day when Lord Rishabha broke his first year-long fast by drinking sugar cane juice.

 

« Back to Gold News stories