A resident checks out gold jewellery at a store on the eve of Akshay Tritiya. Picture by Deepak Kumar

Fall in gold prices and availability of jewellery in new designs have spurred sales of the precious metal ahead of Akshay Tritiya on Monday.

In the run-up to what is considered an auspicious day to buy gold, sales have risen by 25 per cent. To attract more customers, the jewellery shops have introduced new ornaments.

The price of gold fell from Rs 3,004.5 per gm on April 3 to Rs 2,777.5 per gm on May 11. Moreover, a minor fluctuation in the price of gold from Rs 2,777 per gm (May 8) to Rs 2,801.5 per gm (May 10) increased the sale of the metal.

Shekhar Keshari, the chief executive officer (CEO) of Hira Panna Jewellers in Patna, said: “There was a minor fluctuation of Rs 24 and it will keep fluctuating till May 13. But no undue heavy fall or rise in the price is expected.” Last year, gold was priced around Rs 2,909 per gram on Akshay Tritiya.

Hira Panna Jewellers has introduced temple jewellery, which is in high demand.

CEO Keshari said: “This year, we have introduced timeless light and heavy temple jewellery based on Radha-Krishna. These ornaments with mythological designs, which include detailed work of polka and meena along with precious stones, are in demand and well appreciated by customers.”

The buying trend among customers for Akshay Tritiya this year is witnessing a shift. Their preference has changed from coins and bars to jewellery. Madhu Srivastava, a resident of Boring Road, who buys gold every year on this occasion, said: “We can get cash in lieu of gold ornaments. Since gold is cheaper as compared to last year, I have planned to buy a contemporary neckpiece.”

Manish Gupta, the director of Alankaar Jewellers, said: “We are likely to see good profits on May 11-13. The lightweight jewellery with contemporary looks is in great demand. A certain section of customers still opt for gold and silver coins.” He added that silver ornaments, including anklets, bracelets and idols of Lakshmi and Ganesh, are also in great demand.

“Gold is always expensive. There is a marginal difference in the price of gold as compared to last year. This year keeping my budget in mind, I have decided to buy a silver anklet with detailed meena designs,” said Samita Gupta, a customer.

On this occasion, India Post has introduced gold coins with its logo engraved. The coins are of high quality and available in tamper-proof packing. A discount of 7.5 per cent will be available on them between May 12 and May 19. These coins are available at the head post office and other main post offices of the Bihar postal circle.