New Delhi, Apr 29: Despite a sharp rise in gold prices this year, Indian traders remain hopeful for strong business on Akshaya Tritiya — one of the most auspicious festivals in India, which will be celebrated on April 30, the Confederation of All India Traders (CAIT) said on Tuesday.
Even though the price of gold has soared close to Rs 1,00,000 per 10 grams, traders are optimistic that the festive spirit will drive demand.
Pankaj Arora, President of the All India Jewellers and Goldsmith Federation, said that gold sales are expected to reach around 12 tonnes, worth Rs 12,000 crore.
“In addition, silver sales may touch 400 tonnes, worth Rs 4,000 crore. In total, business worth Rs 16,000 crore is expected this year,” Arora stated.
