New Delhi: Friday witnessed gold rush in Delhi, with buyers thronging jewellery shops after prices of the yellow metal dipped by around Rs 500 per 10 gm, coinciding with the auspicious occasion of Akshaya Tritiya. Intricate, delicate and even solid designs, nothing  could beat the brilliance of the yellow metal.

“The response is just overwhelming; we are catering to a huge rush at all our showrooms across the country. The mood is upbeat. It seems that those who had not even planned have also turned up today looking at the dip in the prices,' Balram Garg, managing director and chief executive of the Delhi-based PC Jewellers' Group said.

“With such a demand, we expect the business on Friday to rise by 30 to 40 percent as compared to Akshaya Tritiya last year,” he added.
Other than festival of Dhanteras- two days before Diwali, the Akshaya Tritiya festival is just another auspicious day to buy gold. Hindus believe they can get lasting prosperity by buying precious metals on the day.

Gold, which was retailing at Rs 22,300 per 10 grams a day before, fell to Rs 21,800 on Friday. Silver prices too slipped to Rs 56,000 per kg compared to Rs 60,000 on Thursday.

The fall in gold and silver prices was due to a weakening in the global prices of these precious metals and other commodities.

“I had no plans of buying gold jewellery but the sudden dip in the prices of the metal made me change my mind,” Roshani Agarwal, who works as a manager in a private firm said.

According to shopkeepers, there was more demand for the daily-wear and lightweight jewellery but people also invested into buying gold coins.

However, there are many people who have been buying the precious metal to meet the family customs as well.

Local jewellery shops as well as branded jewellery makers across the country are also offering huge discounts to attract customers this festive season. 

Delhi-based jewellers, Manohar Lal Sarraf and Sons Jewellers, who also have shops in Noida, are offering a 20 percent discount on the making charges. The retail chain charges Rs 300 making charge for five grams of gold coins and Rs 2,500 for 100 grams.