No marriage mahurat at Akshay Tritiya, gold sentiment dismal

MUMBAI: In a departure from the norm, the customary is absent at which falls Wednesday. Overall buying sentiment is also gloomy owing to various pressures on the market, the latest being the scare over at ATMs.
Gold bookings are negligible as rates have soared beyond Rs 32,000 per 10 gm which is steep.

Few marriages are scheduled Wednesday. “For the first time in the 16-year history of my hall, no weddings are scheduled at Akshay Tritiya,” said Kiran Dighe of , Mulund.

Hindu priest of Bail Bazar, Kurla, explained the reason. He said, “It is incorrect to assume that all marriages can be performed at Akshay Tritiya without checking the gun-dosh (virtues and demerits) of the day. There are ten elements that must be ascertained every day. This year there is a particular dosh on April 18 that renders it unsuitable for weddings.”

However, certain households that follow the blanket rule will go ahead. Maher Hall in Dadar is hosting two ceremonies by the Nerurkar and Satam families Wednesday. One of the grooms, an avid fan of Sachin Tendulkar, said he chose the day for its auspicious quotient.

Gold sales are looking dismal. who owns Vikram Jewellers in Dadar said, “Rates have risen over Rs 32,000 for 23 carat jewellery so we are not hopeful of buoyant sales. Clients who buy 10 gm on average may settle for 5 gm. International gold prices spiralled in the last two or three days particularly owing to the US-UK‘s attack on Syria. Gold rates are sensitive to global developments, and this time too, the effect is visible.”

In Shimpoli, Borivli, Nikhil Jain of Aabhushan Jewellers said, “Although we cannot say if customers will come on festival day, the prospects do not seem positive. We have not received bookings or inquiries. Gone are the days when customers would select ornaments in advance and take delivery on mahurat day.”

Another goldsmith Bhavin Jakhia of Om Jewellers nearby was banking on spontaneous festive sentiment to see him through the downturn. He said, “High value items may not do well but low cost ornaments might.”

Indeed Suresh Jain of Mahalaxmi Gold in Ramabai Nagar, Ghatkopar, said, “Small shops like us get by as we sell low value items. Big jewellers may witness a palpable shortfall.”

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