Friday, 2nd May 2008 (441 views)

A number of jewellery houses are planning special offers and promotions to coincide with the Akshaya Tritiya religious festival when Hindus traditionally believe it is a good time to buy the precious metal, industry sources have reportedly said.

The Gulf Times states that the festival, which is celebrated on May 7th or 8th in different countries, often sees a rise in gold demand because of its connections with being an auspicious time to make a new start or investment.

AV Joju, a senior executive at Joyalukkas Jewellery, told the site that a number of companies are planning "special promotions" to capitalise on this busy period.

Last year, Mr Joju added, "Incentives such as gold coins and pendants only fuelled demand" for the precious metal.

According to the news source, one jewellery firm based in Doha, Qatar, is already taking orders for Akshaya Tritiya - and it is offering free gold coins to customers to make a purchase above a specified amount.

In Hindu belief, Akshaya Tritiya is the day when the age known as the Treata Yuga began and the Ganges River, considered India's most holy river, descended from the heavens.

The festival is celebrated in many countries, including India, Nepal, Fiji, Sri Lanka, South Africa and Singapore.

 

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