Gold Sales Up in Western India Ahead of Hindu Festival

Ahead of the Hindu festival Akshaya Tritiya, the demand for gold soars in the Rajkot district of India’s Gujarat state.

Goldsmiths and jewelers say that their business has improved in the past few weeks.

There is more demand for the daily-wear ornaments, such as coins and lightweight jewelry, because they’re affordable and considered a safe investment option.

[Bhayabhai Saholiya, President, Rajkot Gold Dealers Assoc.]:
„Since the price of gold is increasing more and more investors are getting attracted towards it. So, presently the sales are good.“

In India, gold has surged to a record high nearing around $500 per 10 grams following a global surge.

Although the price of gold has risen every year, people still purchase it during the festival because they think it brings good luck.

Foto: NTD