The valuable metal has only gained much more reputation for Akshaya Tritiya (an Indian festival when folks acquire gold or other home to mark new beginnings) which falls on May 7 this year.
Gold stores across the city have been luring consumers with a variety of provides. Contrary to speculations about fall in gold sales this year, stores in Ruwi High Street and numerous malls had been thronged on Monday evening.
Najeeb K, regional head of Malabar Gold & Diamonds, mentioned, “We are all set and ready for one of the biggest festivals of India. Despite the current economic slowdown people are still purchasing gold. Buying gold is a sort of investment and it will go on and on.”
He added their stores across the nation are prepared with fascinating provides. “Though Ramadan starts tomorrow (Tuesday) we have enough staff to take care of the customers.”
Rajesh Govindan, managing companion of Cochin Gold, mentioned, “We received pre-booking on our new designs. The economic slowdown seems to have had no effect on our sales. Indeed enquiries started last week itself.”
Govindan feels that gold can in no way go out of style and it will continue to be investors’ favourite.
Anto Ignatious, regional manager, Joyalukkas mentioned, “Akshaya Tritiya is an auspicious day and we always get good response every year. This year is much better as compared to previous years. Gold unlike others is a sort of safeguard for future.”
Information Source: Muscat Daily