Akshaya Tritiya, variously spelt as Akshya Thiritiya, Akshaya Trutheeya, Akshaya Tritiiya and also called Akshaya Trithi, falling on the third day of the bright half of the lunar month of Vaisakha of the traditional Hindu calendar, is one of the four most auspicious days of the year for Hindus.  In 2011, the date of Akshaya Trithiya is April 23.

The word Akshaya, a Sanskrit word, literally means one that never diminishes, and the day is believed to bring good luck and success. It is widely celebrated in all parts of India by different sections of the society irrespective of their religious faith and social grouping. The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same; diamond and other precious stones; and the real estate. The legend states that any venture initiated on the auspicious day of Akshaya Tritiya shall continue to grow and bring prosperity. Hence, it is normal to see many of the new ventures, like starting a business, ground breaking for construction etc on the Akshaya Tritiya Day.

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Akshaya Tritiya, variously spelt as Akshya Thiritiya, Akshaya Trutheeya, Akshaya Tritiiya and also called Akshaya Trithi, falling on the third day of the bright half of the lunar month of Vaisakha of the traditional Hindu calendar, is one of the four most auspicious days of the year for Hindus. The word Akshaya, a Sanskrit word, literally means one that never diminishes, and the day is believed to bring good luck and success.

It is widely celebrated in all parts of India by different sections of the society irrespective of their religious faith and social grouping. The day is particularly considered auspicious for buying long term assets like gold and silver, including ornaments made of the same; diamond and other precious stones; and the real estate. The legend states that any venture initiated on the auspicious day of Akshaya Tritiya shall continue to grow and bring prosperity. Hence, it is normal to see many of the new ventures, like starting a business, ground breaking for construction etc on the Akshaya Tritiya Day.

However, the high prices of gold ensured that sales in value terms were 14 per cent higher at Rs 7,280 crore than last year’s Rs 6,395 crore, according to the World Gold Council (WGC).

A jeweller from Mumbai added that “at least 20 per cent of sales was, in fact, replacement of old jewellery.” If this is taken into account, then fresh Akshaya Tritiya sales were even lower.

On April 27, the day of the festival, which is considered an auspicious occasion to buy gold, the prices of the metal were around Rs 14,800 per 10 gm. Last year, Akshaya Tritiya was celebrated on two days across May 7-8 with prices hovering around the Rs 11,800 mark.

But an executive of WGC said that, “in the current economic scenario, the sales should be seen as a positive development as consumers spent more money compared with what they did last year on this occasion.”

Sources: Economics times , Business Standard

Gitanjali Group is a leading manufacturer of diamond jewelry, and is known for its Gili and Nakshatra ornament brands.

Gianjali Group plans to make the most of the auspicious festival when sales of coins in the country are expected to grow by 40 percent.

Speaking to PTI, Mehul Choksi, Chairman of Gitanjali Group said that his company was planning to sell 300 to 400 kilograms of gold coins during Akshaya Tritiya, as demand has always been very high during this festival.

Website: http://www.gitanjaligifts.in

Mr Srinivas Jain, Chief Marketing Officer, SBI Mutual Fund said, “We are observing a discerning trend in preference for Gold ETF(Gold Exchange Traded Scheme ) as an alternate investment avenue on the eve of Akshay Tritiya. We have received queries from our investors and distributors on it being an auspicious occasion to invest in Gold ETFs,”.

The week-long celebration is thus aimed at creating awareness about the Gold Exchange Traded Scheme as an investment option amongst the investing class.

Speaking about the initiative, Mr. Achal Kumar Gupta, MD & CEO, SBI Mutual Fund, said,” On behalf of SBI Mutual Fund, I would like to wish everyone a very Happy Akshaya Tritiya. On this auspicious occasion we are celebrating the Akshaya Triitiya week across select branches, so that our customers can avail of this alternative avenue of investing in gold. Gold ETF is the most efficient way of owning Gold as it acts as an important hedge in the portfolio. Since buying gold has great significance on this day, we hope our investors will make use of this opportunity.”

SBI Gold Exchange Traded Scheme (SBI GETS), is a passively managed open ended mutual fund, which would invest in Gold and endeavor to track the price of Gold. The investment objective of the scheme is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical Gold. The launch of SBI GETS is significant as the offering comes from a premier fund house as SBI MF, which enjoys strong support and parentage of State Bank of India, the leader in banking and financial services industry in India.

SBI Gold Exchange Traded Scheme (SBI GETS) will offer you an innovative, cost-efficient and secure way to invest in Gold. Buying a single unit of SBI GETS would be equivalent to buying approximately one gram of physical Gold.

SBI GETS Fund Facts:

• 1 unit of SBI GETS is equivalent to approximately 1gm of gold
• Minimum initial investment is Rs. 5000/- and in multiples of Re. 1/- thereafter with no upper limit
• Post NFO and listing, SBI GETS units can be easily traded like a security on the National Stock Exchange
• NAV would be declared on every business day

Investment objective of SBI GETS:

The investment objective of the fund is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical Gold. However the performance of the scheme may differ from that of the underlying asset due to tracking error

Asset Allocation:

ICICI Bank Akshaya Tritiya 2009 ‘Gold pe Gold’ Offer

On every purchase of ICICI Bank Pure Gold Coin in net quantity of 50 gram, get one ICICI Bank Pure Gold Coin in net quantity of 1 gram at MRP Re. 1.01(inclusive of all taxes).

On every purchase of ICICI Bank Pure Gold Coin in net quantity of 20 gram, get one ICICI Bank Pure Gold Coin in net quantity of 0.5 gram at MRP Re. 1.01(inclusive of all taxes).

Limited period offer, valid from April 15, 2009 to May 15, 2009 or till stocks last.

For More Details about this ICICI Bank Akshaya Tritiya Offer Visit any ICICI Branch

Website: http://www.icicibank.com/pfsuser/webnews/at_gold/akshaya_tritiya_gold_lp.html

“We are confident that on Akshaya Tritiya, consumers will make significant gold purchases as gold is an irreplaceable part of Indian culture and a unique monetary asset,” said World Gold Council (WGC), Indian Subcontinent, Managing Director Ajay Mitra.

Indian consumers could see further rise around 24 per cent in gold prices depending on the rupee-dollar movements in the coming months.

Akshaya Tritiya 2009, which falls on April 27, is considered as an auspicious day for buying precious metals like gold, silver and platinum ornaments and bars.

With Akshaya Tritiya 2009, the positive trend further encourage investors to make more gold purchase.

For advance booking visit www.joscogroup.com

About Josco Jewelers

A glittering presence of over Four Decades, spread all over Kerala and Electronic City of India,Bangalore. A jewellery range so rare and pure, so unique and complete. A customer care that’s so warm and special. A golden trust for a huge, happy customer base all round Kerala and Bangalore.

Josco Jewellers, renowned for uncompromised quality is a leading organization in India engaged in the business of diamond and gold jewellery.The organization, adept at creating the most innovative designs, both traditional as well as conteporary, has caught the fancy of innumerable customers worldwide.