New Delhi: The gold prices might not have seen significant increase but the markets are smiling high over the brisk gold sales on the occasion of Akshaya Tritiya on Monday. Gold prices fell by Rs 400 per ten gram on the day; however, a significant rise of 15 percent has been witnessed in the sale of the yellow metal.

It is estimated that a total of 25 tonne gold was purchased by consumers on the auspicious occasion, whereas 17 tonne gold sale was recorded last year on this occasion. Delhi, Mumbai and Coimbatore are among the cities where gold purchase was seen to be highest. Buying gold on the occasion of Akshya Tritiya is considered as auspicious in Hindu families.

Gold ETFs worth Rs 691 crore were traded on the National Stock Exchange. The growth in gold sales is witnessed due to significant decline in the prices for the last one month. Gold sales continued till 1 AM on Monday night. However, the exact volume of sales on Akshaya Tritiya would be ascertained only by Tuesday evening.

Former President of Bombay Bullion Association Suresh Hundia said that gold demand has increased with the falling prices. He also added that gold coins and jewellery sales also increased by 10-12 percent in Mumbai.

Gold prices fell by Rs 180 to Rs 27,520 in the national capital, Rs 390 to Rs 26,985 in Mumbai, Rs 260 to Rs 27,550 in Kolkata and Rs 200 to Rs 27,170 in Chennai on Monday.
 
JPN/Bureau

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