Gold prices cross Rs 62,000 per 10 grams as Akshaya Tritiya nears

BENGALURU: The Akshaya Tritiya festival, considered an auspicious occasion for purchasing gold, will be observed on April 22 this year. With the ongoing wedding season too, gold price crossed Rs 62,000 per 10 grams on Saturday.

The gold prices is been increasing for the last month. The price of 22 carat gold is Rs 55,750 for 10 grams, and the 24  carat gold is Rs 62,000 for 10 grams. Jewellery store owners are worried about the rising gold prices since last month as they fear that sales could drop. On the other hand, buyers too have expressed disappointment over the soaring prices.

The major factors that affect gold prices in India

Inflation in US

Bank crisis in the US

Most businessmen investing in gold

Ravi Kumar of Swarna Jewellers said, advance booking is best way to invest money on gold.

Ravi Kumar, owner of Swarna Jewellers, said, “Branded jewellery stores and retail shops are offering advance booking during Akshaya Tritiya. This is the best plan to buy as customers will get gold at the price prevailing on the day they made the bookings. It can be exchanged anytime”.

Jessy said, ‘the gold become costlier and looking quality and affordable in my budget.

Jessy, who was planning to buy some gold ornaments, said, “Gold is important for every function. But the prices have been increasing every day. How can poor people purchase any gold at these prices? We are looking for good options and we will purchase within our budget. If the price drops, people will be happy”.