Demand for precious gold is expected to be lukewarm this Akshaya Tritiya, being observed on Friday, as localized lockdowns to control the spread of Covid infections will keep most jeweler shops shut.
The occasion is considered auspicious by many to purchase gold, silver and other metals in India the world s second-biggest bullion consumer. This will be the second year in a row that pandemic-related restrictions will hurt jewellery sales on the otherwise busiest business day in bullion trade.
Analysts and wealth advisers say those eager to make bullion purchases this Akshaya Tritiya can go for paper gold options like sovereign gold bonds, gold futures, exchange-traded funds, fund of funds or digital gold.