Akshaya Tritiya 2018 Gold Rates Today: Gold Price Remains High at Rs 32,450, Due To The Festival
Reportedly, demand for gold on Akshaya Tritiya last year, didn't quite meet jewellers' expectations, on the back of demonetization and the rollout of GST.
Mumbai, April 18: Today is Akshaya Tritiya, also known as Akha Teej, a day which is considered auspicious day to buy gold in the country. According to Indian mythology, buying gold on Akshaya Tritiya is an age-old tradition which brings well-being and bliss. In order to attract consumers and increase footfall in stores, jewellers come up with different offers and discounts. The Gold rates for today stands at Rs 32,450 for (24 Carat), up by Rs 50 as compared to April 17th's rate at Rs 32,400 in Mumbai
There were reports published few days back, which said that spite of the surge in price, jewellers are still expecting 15-20 per cent increase in sales this Akshaya Tritiya, mainly on the back of positive market sentiment, stable prices and ongoing wedding season. According to a report on Financial Express, Gold prices have surged by Rs 650 per 10 grams to Rs 32,000 in last eight days at the bullion market of New Delhi as compared to Rs 31,350 per 10 grams at the national capital on 6 April 2018. Prices of silver have also increased by Rs 850 per kg to Rs 39,900.
Reportedly, demand for gold on Akshaya Tritiya last year, didn't quite meet jewellers' expectations, on the back of demonetization and the rollout of GST. Infact Gold prices have never crossed the Rs 30,000 per 10 grams mark on this particular day in the past. Last year on Akshay Tritiya, gold price reached a high of Rs 29,860 per 10 grams.
(The above story first appeared on LatestLY on Apr 18, 2018 09:42 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).