Gold festival mood upbeat

 BY KK Moidu

Although the price of the gold has touched Dhs149 per gramme for 24k and Dhs138.75 for 22k, the jewellery outlets across the emirates hope the high rates will not affect the gold business on the occasion of Akshaya Tritiya, which falls on Sunday.

The jewellers are gearing up to handle the surge of customers on Akshaya Tritiya, the day considered auspicious for the purchase of gold as per Hindu beliefs.

Pooja Arjun, a housewife in Dubai, said, "I have been buying gold jewellery on Akshaya Tritiya for the last 10 years without considering the increase in gold price. This year also I will buy not less than 10 grammes of gold ornaments on the occasion."

Like Pooja, many others trust that buying gold on this auspicious day will never be a business of loss and will result in wealth and prosperity throughout the year.

Sunanda Krishnan, who is residing in Sharjah for the last eight years and working in a private company in Dubai, said, "I started buying gold on Akshaya Tritiya after coming to Dubai. Last year, I bought 20 grammes of gold ornaments and this year also I am planning to buy some ornaments, but the quantity will not be that much due to the hike in the price of gold."

However, the World Gold Council, its trade partners and most of the outlets in the emirates offer special promotions such as minimal making charges, free gold coins, free Camera and Camcorder, 50 to 70 per cent discounts for diamond buyers etc.

"This region is renowned all over the world for its multi-cultural environment, where people from a number of nations and cultures live in harmony, therefore we are offering people the unique opportunity to appreciate different cultures and their practices. We are very pleased to announce our commitment to creating awareness about this festival - which is a very important event for the Asian community - and outlining the cultural significance of investing in gold for people on this day," commented Yogaani Bhatia, Country Manager UAE, World Gold Council.

In order to cash in the Akshaya Tritiya festival, World Gold Council's trade partners in the region also introduced their very own special-edition gold jewellery collections such as pendant, rings, bangles, diamond sets etc., as well as organising interactive competitions in honour of the occasion.

WGC and Malabar Gold launches interactive radio and print competitions for creating awareness of Akshaya Tritiya. The Akshaya Tritiya special-edition "Divine" collection available at Malabar Gold stores has been created in order to emphasise the importance of keeping this ancient heritage alive.

Malabar Gold is offering two gold coins for the buyers of Akshaya Tritiya Diamond set and half gramme gold coin free for those who buy jewellery worth Dhs6,000 and above. Joyalukkas gifts a Samsung Camcorder and Canon Digital Camera on purchase of the Exqusite Tyohaar Akshaya Tritiya Diamond Necklace worth Dhs17,000 and Elegenza Polki Set designed for Akshaya Tritiya worth Dhs15,500 respectively.