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No gold rush this Akshaya Tritiya with most jewellery stores shut

No gold rush this Akshaya Tritiya with most jewellery stores shut A closed jewellery showroom on Akshaya Tritiya day in Chennai   -  BIJOY GHOSH× Online sales lend some sparkle; big brands innovate with virtual views, gold certificates Typically, there is a gold rush on Akshaya Tritiya, driven by the belief that buying the precious metal on this auspicious day brings prosperity. However, for the second consecutive year, jewellery stores across much of the country were shut, and it was a lustreless year in terms of sales for most retailers. But for big brands with an omnichannel strategy and online players there was some sparkle.

Kalyan Jewellers extends Gold Ownership Certificate initiative

Kalyan Jewellers has announced the extension of the Gold Ownership Certificate initiative. This was launched last year, during the lockdown, and with the lockdown imposed again, the brand has reinitiated the facility, based on customer request. Gold Ownership Certificate will indicate that the person now owns gold of a certain grammage/value. Once the lockdown is lifted, customers can redeem their certificates against physical gold, in the form of coins or jewellery. As the Gold Rate Protection offer is also included in the certificate, customers will get the additional benefit of protection against price fluctuations. If on the day of redemption, the price of gold is lower than the rate at which it was purchased, then the new lower rate would apply.

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