The jewelry showroom wears a relatively abandoned view of Akshaya Tritiya, because rising gold prices discourage customers in Hyderabad on Wednesday. | Photo Credit: Siddhant Thakur
Jewelry shops across Hyderabad recorded Akshaya Tritiya on Wednesday with significantly lower tracks compared to previous years. Despite the beneficiality of the day, many stores had a half -decorated appearance for most of the day, as the increasing gold prices kept the buyers on.
Gold prices in Hyderabad on Wednesday amounted to around 97,000 GBP for 10 grams of 24 carat gold, 90,000 GBP for 22 carats and 73,000 GBP for 18 karat, which is believed to contribute to a decline in festive purchases.
“Compared to last year’s Akshaya Tritiya, the answer was disappointing. We noticed a 20% drop in track,” said Dinesh Kumar of Sri Mahalakshmi Gems and Jewelers. He added that many customers were waiting for a fall in gold prices, but with little fluctuations in recent weeks, some eventually returned to buy, albeit in smaller numbers.
Several jewelers reported similar experiences. While some movement was observed in the evening, it was not near the brisk business that usually expects Akshaya Tritiya. Representatives of the Pooja Jewelers in Ameerpet noted: “Previously our shops would buzz with people from morning to night. This year the crowds were thin, especially during the day. We hope to return people from work.”
Careful sentiment has also expanded to customers. Kirthi Kumar, the inhabitants of Srinagar Colony, said, “We buy the gold of every Akshaya Tritiya as a family tradition, but this year the prices are too high. We waited for it to dive, but that did not happen.”
Narender, 44, from Nacharam, repeated similar thoughts. “Buying gold for akshaya tritiya is something we have always done, even in small quantities. But this time we decided to skip and wait for Dhanteras instead,” he said.
Published – April 30, 2025 20:54 IS IS
