Jewellers to offer online gold sale on Akshaya Tritiya amid lockdown

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Akshaya Tritiya, a festival traditionally known for buying gold in anticipation that it will bring prosperity and good luck, will be observed this year amid the COVID-19 lockdown.

This year's Akshaya Tritiya, which falls on April 26, will be different as all jewellery shops will remain shut due to lockdown and there will be no counter sale for gold ornaments.

But jewellers have found a new way to follow the traditions of Akshaya Tritiya -- they have offered their customers to book gold ornaments online at today's price and take delivery after lockdown is over.

Jewellers in Mumbai's largest gold market, Zaveri Bazar, will offer online jewellery sale on Akshaya Tritiya.

Kumar Jain, vice-president of Mumbadevi Jewellers Association told ANI, "Lockdown has affected their business very badly but they cannot let go away the occasion of Akshaya Tritiya as customers are also trying to reach them to know how they can purchase gold on Akshaya Tritiya. So we have started gold sale online for Madhya Tritiya. People can book gold online on today's rate and get their delivery after the lockdown on the same rate."

"Though this will only compensate our 8-10 per cent of Akshaya Tritiya's expected business on any normal day this will surely help our customers who want to continue their tradition of buying gold," he added.

On the other hand, traders who do bullion business on digital platforms are having a good time.

Jewellers said that online gold purchase has seen a jump of around eight per cent during the lockdown in comparison with last year for the same period. They expect the digital business of gold to shine even more due to Akshaya Tritiya.

Sachin Kothari, director of Augmont, a digital gold trade platform, told ANI, "Gold buying is an integral part of India's traditions. During the lockdown, we have seen a good trend of people buying gold digitally. We expect this to grow even more in the next two days due to Akshaya Tritiya."

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