Akshaya Tritiya Demand Remain Weak in Karnataka; 2,795 KG Gold Jewelry Sold Out

Bengaluru: Gold jewelry demand during two days of Akshaya Tritiya on April 28 and 29, 2017 failed to meet the expectation of jewelry shop owners in the state. This year Akshaya Tritiya was celebrated on Friday and Saturday  and there were expectations that there would be higher demand for gold, silver ornaments when compared to the last year when it was celebrated in a single day.

Last year, jewelries in Karnataka sold 2, 200 kg of gold and 1, 500 kg of Silver with a transaction of Rs 640 crore. However, crossing last year’s demand, this year 2, 795 kg gold and 780 kg silver jewelry was sold out at jewelry shops in the state, according to Karnataka State Jewelry Merchants Association.