BENGALURU: Jewellers in Bengaluru received a mixed response on the auspicious occasion of Akshaya Tritiya. While big brands saw huge footfall, smaller stores waited for sales to pick up. Last week, the yellow metal saw a marginal drop in price, giving hope to jewellery retailers. Gold prices are currently at their peak, following a 20% increase in prices since last year. As of April 21, the metal was valued at Rs 57,200 for 10 grams of 22 carats.
Praneeth from Joyalukkas said, “Sales in our store in the past two days have been great. Depending on their needs, people are purchasing, and sales have been better than last year.” He added that many people are not concerned about gold prices, and are willing to purchase small items for the occasion.
However, small-scale retailers reported sluggish sales. The manager at Shanti Gold and Silver, a jewellery shop in Jayanagar, said, “People who fall in the middle-class group and below don’t have spending capacity. We have seen very few sales over the weekend.”
Mahalakshmi Gold Palace in Malleswaram, a medium-level jewellery showroom, saw an increase in footfall on Sunday, as compared to Saturday, with decent sales. This year, the festival was spread over two days, April 22 and April 23. Customers mostly purchased small quantities of the metal including gold and silver coins, chains, bangles and earrings.