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The gold rush starts
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The auspicious Akshaya Tritya has put buying gold back in the top bracket
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Glittering buys Frenzied buying for the Akshaya Tritya on May 11 Photo: Paul Noronha
In the litany of unnecessary trivia that crowd Indian minds it's next only to cricket scores. The rise and fall of gold prices is watched with more fervour than any serial worth its TRP. And come May 11, the fate of every gold shop in the city is going to shine brighter. Akshaya Tritya marks the onslaught of the customer on the happy jeweller. There are hordes of people everywhere buying everything in sight, from one-gram coins to layered necklaces. "Unbelievable is the word that comes to mind when one sees the number of people crowding jewellery shops," says Srinidhi Samanth who is shopping for her niece's wedding. K. Shivram, Vice-president of the World Gold Council, which promotes the festival, says: "It's an auspicious event and we promote the wearing of new jewellery."
The strategy seems to have worked because even two years ago it was nothing but now buying gold during Akshaya Tritya is de rigueur among the middle classes.
DEEPA ALEXANDER
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