Akshaya Tritiya: Lightweight jewellery big hit as gold turns costlier

Some jewellers said last year's demand was "exceptional", following a near washout in the pandemic-affected years of 2020 and 2021

This Akshaya Tritiya appeared to be pale as high gold prices and inflationary pressure pulled demand in terms of volume or weight down by 20 per cent when compared with last year, according to market players. Still jewellers felt content that at least they matched last year’s sales in value terms. 

They witnessed strong demand for lightweight jewellery as the yellow metal turned 18 per cent costlier over the past year.

Demand in south India remained strong, but there was weakness in northern and western India, according to Surendra Mehta, national secretary, Indian Bullion and Jewellers Association.

Some jewellers said