Gold rush in Silicon City

Gold rush in Silicon City

People purchasing jewellery in a shop on the occasion of Akshaya Tritiya in Bangalore on Sunday. DH PHOTO

The festival, considered as an auspicious day in the Hindu calendar for purchasing the precious metal saw people rushing  to gold shops to make their annual buying of the glittering ornaments. And it being a Sunday made it better for the sellers.

Speaking to Deccan Herald, Padmashree, resident of Ulsoor said: “I went and made my purchase early in the morning as I expected a rush as the day progressed and it turned out to be true as my neighbours told me.”

Similarly, Shobha from Malleswaram said she had to wait over 30 minutes for her turn to buy. However, some stores owners said that the demand was moderate due to the surge in price.

Meanwhile, showcasing how special the day is for gold buying, country’s leading bourses, the Bombay Stock Exchange and the National Stock Exchange conducted special trading sessions in gold Exchange Traded Funds (ETF) on Sunday.

And according to reports, volumes were relatively high on the NSE platform during the day at Rs 172.39-crore while that of BSE stood at Rs 24.87 crore.

“The special trading session was a big success as reflected in the volume,” an NSE official was quoted as saying.

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