Hyderabad: Glitz, glitter and sparkle back at jewellery outlets

Hyderabad : The softening of gold price to around Rs 55,750 for 22 karat gold led to glitz, glitter and sparkle at jewellery showrooms in the city on Saturday. They witnessed huge rush and steady increase in footfalls since morning.

According to All India Gem and Jewellery Domestic Council (GJC) chairman Sayam Mehra, people bought new jewellery, mostly in light weight, and there was demand for pre-booked items. Jewellery from 5-33 grams and coins in 1-2 grams range have been popular this year, he said, adding that this year, after hallmarking, jewellery has become more popular than coins. The volume of business this Akshaya Tritiya across the country is expected to be around 17-18 tonnes.

Like last year, this year, too, people bought wedding jewellery as the marriage season falls immediately after Akshaya Tritiya. The jewellers in the city expect a steady flow of footfalls even on Sunday.

The preference of consumers has been more for jewellery up to 20 grams.

Prominent jewellers told Hans India that in addition to fall in gold prices, they were extending special offers on diamonds and jewellery. Many people were showing interest in exchange of old gold jewellery with new ones.

Most of the shops, they said, had gone in for collection of new designs and they start the process six months ahead of Akshaya Tritiya.