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High prices fail to dampen Akshaya Tritiya gold rush in Amritsar

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The spirit of Akshaya Tritiya kept gold markets buzzing in Amritsar, with jewellers reporting a sharp spike in sales despite record high prices, as buyers turned out in large numbers to mark the auspicious occasion.City jewellers said business was significantly higher than usual, driven by strong festive sentiment, though most customers preferred smaller and lightweight purchases.Pankaj Khurana of Khurana Jewellers said sales were nearly three times higher than normal. “The gold price was high, it touched nearly Rs 15,700 per gram. However, footfall remained strong throughout the day,” he said.He added that while demand remained robust, buying patterns had evolved. “Customers are more price-conscious now. Coins, small bars, and lightweight jewellery are the top choices this year.” He added that the customers also preferred diamond jewellery.Other jewellers in Guru Bazar and nearby markets echoed similar trends, noting that festive offers and flexible purchase schemes helped attract buyers even as gold prices remained steep.Residents said they did not want to miss the traditional purchase, even if it meant scaling down. Rajesh Sharma, a resident of Ranjit Avenue, said, “Buying gold today is auspicious for us. Prices are high, so we bought a small coin, but we didn’t skip the tradition.”Simran Kaur, another buyer, said, “Earlier we used to buy heavy jewellery, but this time we chose a light chain. It’s about the occasion more than the quantity.”Jewellers also reported increased exchange of old gold and advance bookings, indicating a shift toward smarter and budget-conscious buying.Despite soaring rates, Amritsar’s markets showed that on Akshaya Tritiya, sentiment outweighs price, with tradition continuing to drive demand, even if the size of purchases has changed.

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