Diamond company Gitanjali Group is eyeing to sell 400 kg of coins made of

RELATED ARTICLES Gold buying slows after Akshaya Tritiya

gold during Akshaya Tritiya, an auspicious day for buying precious metals, during which sales of such coins in the country is expected to grow by 40 per cent this year.

"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," Gitanjali Group Chairman Mehul Choksi told PTI.

Demand would remain high even if prices rise in the coming days, he added. Gitanjali Group is a leading manufacturer of diamond jewellery and is known for its Gili and Nakshatra brands of ornaments.

According to the Bombay Bullion Association, gold coins sales could rise by 40 per cent to 7-8 tonnes during Akshaya Tritiya, which falls on April 27 this year.

"Gold coins sales could improve to 7-8 tonnes during Akshaya Tritiya if prices continue to fall," Association President Suresh Hundia said.

Gold coins sales around this festival in the last year stood at 5-6 tonnes, he said.

"Falling prices may help revive demand even as gold imports into the country have remained zero in the last two months," he said, adding that gold purchases normally pick up a week or two before the festival.

Gold prices at present are hovering at around Rs 14,300 per 10 gram, falling by 9.37 per cent from a record Rs 15,780 per 10 gm on February 24. In the global markets, gold has fallen 4.6 per cent in the past one month.