A disappointing Akshaya Tritiya for jewellers
The Hindu
Amid pandemic situation and partial lockdown, business remains dull
Akshaya Tritiya, considered an auspicious day, witnessed subdued activity on Friday as the COVID-19 pandemic has dampened the spirits of people for the second consecutive year. Gold merchants said with Akshaya Tritiya falling in the lockdown/curfew period for two successive years, the gold and jewellery trade suffered a big setback. Consumer demand, as compared to previous years, nosedived. Stores were either closed or operated only for a few hours due to the restrictions in place. “The sales were weak due to the challenging environment in 2020. The same thing repeated this year too as there is a State-wide curfew. The physical demand for gold remains muted,” said Krishna, a jewellery shop owner.
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