Akshaya Tritiya 2016: Jewellers optimistic on sales; gold bonds issue likely too

| Wednesday, May 4, 2016 - 11:37
First Published |
Gold at an all time high this Tritiya!, Akshaya Tritiya 2016: Jewellers optimistic, gold bonds issue likely too

Akshaya Tritiya 2016: Gold at an all time high this Tritiya!

Delhi: A weak dollar and weak global markets is surely going to bring some cheer for the jewellers this Akshay Tritiya.
As Akshaya Tritiya 2016, which is falling on May 9 this year, approaches, gold is at a striking 15-month high. Till date, gold has surged 22% this year.
The World Gold Council too opines the gold's good run is here to stay and doesn't see even the drought blighting the crops across the nation affecting the yellow metal. 
In order to cash in on the opportunity, the government too is mulling issuing a fourth installment of sovereign gold bonds ahead of the festival, according to the sources.
The first three sovereign gold bond issues mopped up investments equalling the price of 5000 kg of gold - with the second issue accounting for as much as 3000 kg worth of these. 
With gold prices hovering around same levels, it will be interesting to watch if the Akshaya Tritiya factor this time will play a factor in ensuring a better participation if the government goes ahead with the new issue. 

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