Gold prices dropped to around Rs 55,750 for 22 karat gold on Akshaya Tritiya, leading to increased business for jewellery showrooms in Hyderabad. There was a high demand for new jewellery, especially in light weight, and pre-booked items. Jewellery ranging from 5-33 grams and coins in 1-2 grams range were popular this year, and jewellery was more popular than coins after hallmarking. The expected volume of business across the country is around 17-18 tonnes.
People also bought wedding jewellery as the marriage season follows Akshaya Tritiya. Jewellers expect a steady flow of customers even on Sunday. Consumers prefer jewellery up to 20 grams. Prominent jewellers extended special offers on diamonds and jewellery, with many people interested in exchanging old gold jewellery for new ones. Most shops start collecting new designs six months ahead of Akshaya Tritiya.