Gold prices dropped to around Rs 55,750 for 22 karat gold on Akshaya Tritiya in Hyderabad, leading to increased business at jewellery showrooms. People mainly bought new light-weight jewellery and pre-booked items. Jewellery from 5-33 grams and coins in 1-2 grams range were popular, with jewellery being more popular than coins after hallmarking. The volume of business across the country this Akshaya Tritiya is expected to be around 17-18 tonnes. People also bought wedding jewellery as the marriage season follows immediately after Akshaya Tritiya.
Consumers preferred jewellery up to 20 grams and jewellers extended special offers on diamonds and jewellery. Many showed interest in exchanging old gold jewellery with new ones. Shops start collecting new designs six months ahead of Akshaya Tritiya.
