Akshaya Tritiya drives strong gold sales in Visakhapatnam

Jewellery showrooms across Visakhapatnam recorded brisk sales and heavy customer turnout on the eve of Akshaya Tritiya, with buyers thronging outlets from early morning to purchase gold ornaments on the auspicious occasion.

Most showrooms opened by 8 a.m., anticipating strong demand. Jewellers said sales stayed steady throughout the day, with small ornaments accounting for the largest share of purchases as customers favored lighter designs amid high gold prices. Industry sources estimated a noticeable spike in turnover compared with regular days, driven mainly by festive sentiment and traditional buying patterns.

To attract customers, jewelry retailers announced festive offers, including discounts of up to 30 percent on wastage charges for jewelry making and gift coupons. However, traders noted that demand was largely driven by sentiment rather than by the schemes.

Customers said gold buying on Akshaya Tritiya remains a long-standing tradition that continues despite price fluctuations.

“With or without offers, we are bound to buy a gold ornament for Akshaya Tritiya. Buying gold, even in small amounts, is a norm among middle-class families on this occasion,” said Sankar Rao at a showroom on Railway Station Road.

He added that gold is increasingly viewed as a financial asset. “Gold is no longer seen only as an ornament but also as a long-term investment, given its rally and the expectation of higher returns in the future,” he said.

Jewellers said the day significantly contributed to overall sales volumes, reaffirming Akshaya Tritiya as one of the strongest demand drivers for the jewellery sector in the city.