Gold demand fell by 8 per cent to 45 tonnes on this year's Akshaya Tritiya, an auspicious day in the Hindu calendar for new purchase of long-term assets, due to a rise in prices, compared with 48.9 tonnes in a year-ago period, the World Gold Council said.Gold prices on the auspicious day of Akshaya Tritiya, which was celebrated on April 27, were ruling at Rs 14,700 per 10 gram, up by 24.57 per cent from last year, it said.
However, in value terms, gold demand rose by 14 per cent to Rs 7,280 crore in 2009 compared with 6,359 crore in a year-ago period, according to the WGC statement.
"The sales have been very positive for gold. In value terms, the growth has been impressive in spite of the price increase of 25 per cent. Large and established players selling hallmarked jewellery have performed better than the market," WGC managing director for Indian Subcontinent Ajay Mitra said.
Jewellery stores reported an increase in both volume and value terms, as against last year's Akshaya Tritiya, thus indicating a strong consumer preference for hallmarked jewellery retailed through these stores, the WGC said.
India is the largest consumer of gold jewellery in the world. Gold is largely purchased on auspicious days like Akshaya Tritiya and Dhanteras during Diwali across the country.
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