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Indian sprinter Dutee Chand signed as new face of Senco Gold & Diamonds freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Synopsis Demand was minuscule last year, when the country was in a lockdown on Akshaya Tritiya in late April. But consumer sentiment wasn’t this bad, as there were very few Covid cases at the time, and many had booked gold over the phone or purchased it online. Whatever little bit of business is happening now, it is mainly through online platforms, jewellers said. Digital gold, which is bought through payment apps like Paytm is showing some traction with purchases in the Rs 3,000–4,000 range. Demand for gold has crashed by 75-80% this Akshaya Tritiya on Friday compared with the festival in the pre-Covid-19 period two years ago, hurt by sentiment dampened by the pandemic and restrictions on trade and movement of people in several states. ....
Kolkata: Demand for gold has crashed by 75-80% this Akshaya Tritiya on Friday compared with the festival in the pre-Covid-19 period two years ago, hurt by sentiment dampened by the pandemic and restrictions on trade and movement of people in several states. Demand was minuscule last year, when the country was in a lockdown on Akshaya Tritiya in late April. But consumer sentiment wasn’t this bad, as there were very few Covid cases at the time, and many had booked gold over the phone or purchased it online. Whatever little bit of business is happening now, it is through online platforms, jewellers said. ....
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-COVID sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people. In a normal year, the industry does business of 25-30 tonnes on Akshaya Tritiya, but this year, it expects a maximum of 3-4 tonnes of sales as offline sales have been badly impacted. Some organised players like Kalyan Jewellers did online bookings of gold which will be physically delivered later. The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country. This has created an overall negative consumer sentiment, All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. ....