Akshaya Tritiya: Jewellers expect pick up in sales as gold prices soften

The recent softening of the gold price has supported demand for the yellow metal on the auspicious day of Akshaya Tritiya and jewellers have been witnessing steady footfalls since morning.

"Since morning the footfalls have been good, mostly supported by the price coming down to around Rs 56,500 levels for 22 karat gold," All India Gem and Jewelry Domestic Council (GJC) chairman Sayam Mehra told PTI.

People are buying new jewellery, mostly in light weight, and also picking up the pre-booked items. The footfalls are expected to increase as the day progresses, Mehra said.

Jewellery from 5-33 grams and coins in 1-2 grams range are popular this year, he said, adding that this year, after Hallmarking, jewellery has become more popular than coins.

"This year we expect business to be around 17-18 tonnes in terms of volume on Akshaya Tritiya. Last year, people bought wedding jewellery as the marriage season was immediately after Akshaya Tritiya. However, this year it's in June-July, so the