Akshaya Tritiya in Hyderabad: A Possible Decline in the Glitter of Gold

Gold prices are high this year, which may dampen demand for the precious metal on Akshaya Tritiya. Jewellers are expecting a decline of 20-30% in sales volume across India, with the southern state of Telangana likely to see the biggest dip in sales. During Akshaya Tritiya, 40% of business is done in the south, 25% in the west, 20% in the east and 15% in the north. The co-owner of New DM Jewellers at Secunderabad said that unless there was a short-term softening of gold prices, the demand for jewellery would not increase. The period until April 27 is considered inauspicious, which has led to a fall in sales. Customers who have obligations, such as for marriages, may still purchase gold. However, customers like K Siddharth, a techie, have decided to wait for prices to come down before buying.