<p>Mysuru: There has been a 35.3 per cent hike in gold prices since the last Akshaya Tritiya. Yet, it did bar people from buying gold on the occasion on Wednesday. </p><p>About 780 jewellers in Mysuru saw 50 per cent extra rush of customers and sales of gold on Akshaya Tritiya compared to the sales on regular days. Jewellers also gave good offers to their customers, president of Mysuru Shroff Vartak Sangha (Mysuru Jewellers' Association) Adarsha K Murthy said. </p><p>"As it is believed that whatever is bought on this day becomes Akshaya (infinite), people start booking gold jewels a week in advance. But, due to the price rise, unlike previous years, when people bought huge quantities of gold, now they are buying small quantities of jewels, as a ritual, on the auspicious day. The sales on the occasion are 20% less, compared to last year," he added. </p>.Bengaluru: Tradition trumps caution for ‘smart gold shoppers’ on Akshaya Tritiya.<p>Adarsha said, "Amid wars, fluctuations in the rate of dollars, American policies and other international issues, people prefer to invest in gold instead of shares and bonds, as it is safe to carry and can be encashed quickly during times of uncertainty. So, several factors are affecting gold prices". </p><p>On the increasing value of gold, Adarsha said, "The rate of gold increased by 22 per cent so far from January, it is 29 per cent higher compared to 2024 and 33 per cent higher compared to 2023. It is likely to touch Rs 12,000 per gram soon. Investment in gold is always better than investment on land and bank deposits. The average gold rate increases by at least 15 per cent in five years. So 30 per cent of the investment should be on gold to fight against devaluation of money and to sustain future expenses". </p><p>He said, "People should ensure the BIS hallmark and HUID". About small jewellers, he said, "With high cost of gold, small jewellers are affected as they can't invest much, to maintain stocks. There is heavy competition and the new generation people are choosing white collar jobs. Yet they are sustaining business and are not closing down". </p><p>Large number of jewellery shops on D Devaraj Urs Road, Ashoka Road, Bengaluru-Mysuru Road and across Mysuru city, saw good response and sales on Wednesday. </p><p>Vasanthi Purushotham, a resident of Mysuru, said, "On Akshaya Tritiya last year, on May 10, the rate of gold for 10 grams 24 ct was Rs 73,200. On Wednesday, April 30, it was Rs 99,000. For gold purchased two decades ago, I got a good price, during a difficult time. On the auspicious day, though I could not buy a chain, due to high cost, I bought a ring". </p><p>Another resident Saraswathi Ravi said, "Gold is never out of fashion. It is also a good investment. Considering the rise in gold prices, I felt it is better to buy gold at the earliest, before it increases further. So, I bought gold biscuits for my teen daughter, as she can get the design of her taste done as per the trend during her wedding, after 10 years".</p>
<p>Mysuru: There has been a 35.3 per cent hike in gold prices since the last Akshaya Tritiya. Yet, it did bar people from buying gold on the occasion on Wednesday. </p><p>About 780 jewellers in Mysuru saw 50 per cent extra rush of customers and sales of gold on Akshaya Tritiya compared to the sales on regular days. Jewellers also gave good offers to their customers, president of Mysuru Shroff Vartak Sangha (Mysuru Jewellers' Association) Adarsha K Murthy said. </p><p>"As it is believed that whatever is bought on this day becomes Akshaya (infinite), people start booking gold jewels a week in advance. But, due to the price rise, unlike previous years, when people bought huge quantities of gold, now they are buying small quantities of jewels, as a ritual, on the auspicious day. The sales on the occasion are 20% less, compared to last year," he added. </p>.Bengaluru: Tradition trumps caution for ‘smart gold shoppers’ on Akshaya Tritiya.<p>Adarsha said, "Amid wars, fluctuations in the rate of dollars, American policies and other international issues, people prefer to invest in gold instead of shares and bonds, as it is safe to carry and can be encashed quickly during times of uncertainty. So, several factors are affecting gold prices". </p><p>On the increasing value of gold, Adarsha said, "The rate of gold increased by 22 per cent so far from January, it is 29 per cent higher compared to 2024 and 33 per cent higher compared to 2023. It is likely to touch Rs 12,000 per gram soon. Investment in gold is always better than investment on land and bank deposits. The average gold rate increases by at least 15 per cent in five years. So 30 per cent of the investment should be on gold to fight against devaluation of money and to sustain future expenses". </p><p>He said, "People should ensure the BIS hallmark and HUID". About small jewellers, he said, "With high cost of gold, small jewellers are affected as they can't invest much, to maintain stocks. There is heavy competition and the new generation people are choosing white collar jobs. Yet they are sustaining business and are not closing down". </p><p>Large number of jewellery shops on D Devaraj Urs Road, Ashoka Road, Bengaluru-Mysuru Road and across Mysuru city, saw good response and sales on Wednesday. </p><p>Vasanthi Purushotham, a resident of Mysuru, said, "On Akshaya Tritiya last year, on May 10, the rate of gold for 10 grams 24 ct was Rs 73,200. On Wednesday, April 30, it was Rs 99,000. For gold purchased two decades ago, I got a good price, during a difficult time. On the auspicious day, though I could not buy a chain, due to high cost, I bought a ring". </p><p>Another resident Saraswathi Ravi said, "Gold is never out of fashion. It is also a good investment. Considering the rise in gold prices, I felt it is better to buy gold at the earliest, before it increases further. So, I bought gold biscuits for my teen daughter, as she can get the design of her taste done as per the trend during her wedding, after 10 years".</p>