Gold season for Indian festival Akshaya Tritiya

Gold season for Indian festival Akshaya Tritiya

THE price of gold is prone to swing. Whether it goes up or down, Indians can't take their eyes off it.

To many in the Indian community it is always a good time to buy gold, irrespective of the price. And their fascination for the yellow metal continues to fuel demand.

Most Indians buy gold with an eye on the future.

They are aware that prices may fluctuate but gold will last forever and it is a form of savings for them.

It is also a symbol of wealth and an important part of many rituals, making it an ideal gift to mark festivals and weddings.

Akshaya Tritiya is one of the festivals and it falls on April 28 this year.

It is one of the most important days for the Hindu community as it is the day of the birth of the Lord Parasurama, the sixth incarnation of Lord Vishnu.

Photo: Joyalukkas

The Hindus consider this day lucky and believe that any initiative made on that day or anything bought on that day will bring good fortune.

The day is considered to be auspicious for buying gold as it is believed that it will bring good fortune to the buyer.

It is said that gold jewellery bought and worn on this day signifies never diminishing good fortune.

With gold bearing such a significant value on Akshaya Tritiya, it's no wonder that jewellery showrooms prepare for the gold rush one month in advance.

And while gold prices may be on the higher side now, jewellery outlets in Singapore are also offering customers attractive offers.

At Joyalukkas - whose showroom is located opposite the Perumal Temple in Little India - customers will be spoilt for choice in diamond, polki and pearl jewellery specially created for Akshaya Tritiya.

Executive director of Joyalukkas Group John Paul Alukkas said: "Akshaya Tritiya is a festival with a beautiful message about acting now, doing good now to reap an abundance of rewards in the future.

Photo: GRT Jewellers

This is a philosophy echoed in Joyalukkas Group's activities, and as a result we tend to celebrate Akshaya Tritiya in a big way, with new collections, giveaways and offers to delight our loyal customers, whose support in our three decades of operations has made the success we enjoy as a household name in jewellery worldwide possible."

Apart from special rates on jewellery sets, customers at Joyalukkas will receive a free gold coin of up to 2gm on their purchase of jewellery, as well as 0 per cent deduction on gold exchange.

A limited edition 250mg gold coin will also be given away for free on purchase of gold jewellery worth $1,000 or more on April 28.

There is also a gold rate protection guarantee on offer for the duration of the promotion.

At just 10 per cent advance booking of the total amount, Joyalukkas assures its customers that they will get their gold at the lowest rate till May 7.

Malabar Gold & Diamonds, which has two outlets on Serangoon Road and one on Syed Alwi Road opposite Mustafa Centre, has a similar offering.

According to Malabar, customers can pay 10 per cent of the value of their jewellery and get gold rate protection until April 28.

Photo: Great United Goldsmith Jewellery

Other attractive offers include a Scratch and Win coupon with every purchase of gold jewellery above $1,000, which will give customers a chance to win up to 100 gold coins.

They will also get a 1gm gold coin on every $1,000 worth of diamond jewellery purchased.

Malabar Gold & Diamonds has just unveiled its latest collection of jewellery specially designed for the festive season in gold, diamonds and precious gems.

Customers can trade in their old 22k gold jewellery purchased from Singapore with Malabar Gold & Diamonds' jewellery collection without any loss and by only paying making charges.

This will ensure that their customers don't lose any value on the rate of gold and also save on the 7 per cent GST.

Customers can also buy 22K 8gm gold coins with no making charges during this promotion period until May 7.

Photo: Meena Gold Jewellers

Meanwhile, GRT Jewellers on Serangoon Road is offering its customers a 250mg gold coin for free with every $500 worth of gold jewellery purchases.

There is also an ongoing 10 per cent discount on diamond jewellery. Customers can pre-book their gold jewellery and stay protected against gold price fluctuations.

If the price falls on Akshaya Tritiya day, the difference will be refunded to customers.

Director of Abiraame Popular Jewellers Ramanathan Palaniappan recommends that people book their jewellery at an earlier date to avoid the crowd on the day of Akshaya Tritiya.

His outlet on Serangoon Road has received more than 400 advance bookings for jewellery as of April 11 and customers can collect their purchases from a collection centre on 29 Upper Dickson Road on April 28 - to avoid the crowds on the day.

For the auspicious occasion of Akshaya Tritiya, Abiraame Popular Jewellers is offering a mystery gift to all its customers for their purchases.

Photo: Abiraame Popular Jewellers

For every $1,000 spent, customers who book their jewellery in advance will also receive a gold coin, in addition to the mystery gift.

The shop usually opens from 10am to 10pm but on Akshaya Tritiya day, it has extended its operating hours and will open from 8.30am to 11pm so it can accommodate more customers.

Mr Ramanathan notes that nowadays Indian women prefer trendy traditional jewels and antique collections while for daily wear, they prefer lightweight diamond collections.

The price of Abiraame Popular Jeweller's diamond and antique collections start from $500.

With an extensive range of promotions and a wide choice of gold and diamond jewellery on offer, customers are definitely spoilt for choice this Akshaya Tritiya.


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