Indian traders expect good business on Akshaya Tritiya: CAIT

New Delhi New Delhi, Despite a massive surge in gold prices this year, Indian traders are expecting robust business on Akshaya Tritiya, the Confederation of All India Traders (CAIT) said on Tuesday. Akshaya Tritiya is one of the most auspicious festivals in India, which will be celebrated on April 30.

Even though the price of gold has inched closer to Rs 1,00,000 per 10 gram mark, traders are hopeful that the festive fervour will drive demand. Pankaj Arora, president of the All India Jewellers and Goldsmiths Federation, said gold sales are expected to touch around 12 tonnes, worth Rs 12,000 crore. “Besides, silver sales may touch 400 tonnes, worth Rs 4,000 crore. Overall, a turnover of Rs 16,000 crore is expected this year,” Arora said.