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Thursday, 23rd April 2009 (1385 views)

Gitanjali Group has stated that it plans to sell a total of 400 kg of gold coins during the Hindu festival of Akshaya Tritiya.

Mehul Choksi, Gitanjali chairman, told the Press Trust of India: "We are planning to sell 300 kg-400 kg of gold coins during Akshaya Tritiya as demand has always been very high during this festival."

Purchases of gold made during the annual festival are believed to bring luck, success and prosperity and the gold specialist expects sales to increase in the run up to the event on April 27th.

Meanwhile, the Bombay Bullion Association has reported that India will start to import gold again in April 2009 following a two-month freeze on in bound trade, with many people expected to purchase gold to mark Akshaya Trithya.

The organisation predicts that sales of gold coins could rise by as much as 40 per cent to seven or eight tonnes during Akshaya Tritiya, up from five to six tonnes in 2008.

 

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