Akshaya Tritiya Day Gold sales may reach 15 tonnes reach in year 2012 India : Latest Share Market News

Akshaya Tritiya is auspicious day for Indians. Many of Indians will desire to purchase Gold or Silver at least. Gold is well known as Yellow metal in all over the world. 

During last year 2011, on Akshaya Tritiya day, the yellow metal Gold sales marked up 13 tonnes and in cash up to 600 crore in India. In this year 2012, the sales expected to reached 17 tonnes and in cash 750 crore in Indian gold market on Akshaya Tritiya day only. 

Recently Indian government hiked the VAT Tax and other taxes also. Due to these increased taxes, the yellow metal Gold rates also escalated and gold prices ranges between 29,000 to 30,000 Rupees per 10 gram in retail gold market in India.

Inflation and Less Gold sales offers on gold prices and high gold prices on Akshaya Tritiya day, the gold sales may not reach to expecting mark in this year 2012 Gold sales in India. 

In metro cities of India, the more demand of gold on Akshaya Tritiya day, and due to increase in gold purchasing power and awareness on auspicious day Akshaya Tritiya in rural village areas, the gold sales is expecting to reach 17 tonnes (including both metro market and rural retail market) for this 2012 year gold sales of India.

For this 2012 year, All Indian Gems and Jewellery Trade Federation is expecting the increase in number of Indians to purchase gold through retail as well as online gold sales on auspicious day Akshaya Tritiya in India.

All Indian Gems and Jewellery Trade Federation also expecting somewhat low sales volume of yellow metal Gold at subdued due to less Gold offers and high gold rates for jewelry gold category on this Akshaya Tritiya day in India.

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