Jewellers to take digital route this Akshya Tritiya

NEW DELHI: The Indian bullion market will not witness the buying fervour as seen every year on the auspicious occasion of Akshya Tritiya that falls on Sunday this year due to a nationwide lockdown in place to fight the coronavirus pandemic. However, the trade bodies said that jewellers will to take the digital route to explore the possibility of selling.

Meanwhile, the recent order of the Centre may give the Indian bullion market an opportunity to trade if the state governments allow opening of shops, said Surendra Mehta, National Secretary, India Bullion and Jewellers Association (IBJA). Gold prices are ruling near an all-time high in the domestic market while the yellow metal rallied to over a seven-year high in the global market amid the coronavirus crisis.

Mehta said this is good news for the Indian bullion market that ahead of the auspicious occasion of Akshay Tritiya, the government has offered some relaxations to open the shops in non-containment zones.

The Union Ministry of Home Affairs on Friday allowed opening of shops as part of the easing of lockdown restrictions announced on April 15 with neighbourhood shops and others being allowed within the city and all shops except those in malls allowed outside the municipal limits with 50 per cent strength of workers. But such relaxations in any particular area would be decided by the respective state governments.

“We have asked all the jewellers to get in touch with the buyers though the digital route and if they are interested, they can purchase online and get physical delivery of items when the lockdown ends,” said Mehta. (IANS)

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