Bada Bazar in Berhampur, the biggest bullion market in south Orissa, witnessed chaotic scenes on Monday as buyers thronged outlets to purchase gold on the occasion of Akhshya Tritiya.
It is believed that on this day, the third day of the month of Baishakh, the Sun and the Moon are at their brightest. For some people, what shines even brighter is precious metal like gold.
“We consider the day auspicious and try to bring home gold as a mark of invocation of Mahalaxmi, the goddess of wealth”, opined some buyers who crowded the gold shops. The high price of the yellow metal has not deterred them to go on the purchase spree.
Over the past few years, the hype around Akshaya Tritiya has grown in leaps and bounds in Orissa in general and Berhampur in particular.
“During last few years, I am purchasing gold on every Akshya Trutiya. But this year I plan to buy small quantity of gold as the prices are very high”, said P Satya Narayana, a businessman.
On Monday, gold prices hovered around Rs 1420 and Rs 1520 per gram in 22 and 24 carat category respectively. This excluded the taxes and making charges for ornaments. The jewelers, however, are offering attractive discounts to attract the buyers. The branded jewellary shops have announced discounts on making charges varying from 50 to 100 percent and are offering gifts on purchase of certain quantity of gold.
Contrary to the observation of buyers, the jewelers in the city attributed the higher gold trade on Monday to current marriage instead of the auspicious occasion of Akshaya Trutiya. “I think higher sales were reported on account of the marriage season”, said P. Satya Narayan Senapati, president of Berhampur Jewellery Association. Anther gold merchant said, there was substantial increase in business on Akshaya Tritiya day this year despite spiraling of gold prices.