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Soaring prices may hit gold sales on Akshaya Tritiya

Akshaya Tritiya, considered an auspicious day to buy gold, is likely to be lacklustre this time as jewellers are expecting negative to marginal growth compared to last year, on the back of rising gold prices, which is ruling at over Rs 30,000 per 10 grams.

Both contracts remained near 2016 highs of $48.19 and $46.14 per barrel respectively, and WTI's smaller fall was a result of declining US crude output, traders said.
The government is hoping to succeed with the recently launched gold schemes by Prime Minister Modi.

Were one to ask financial experts to name the best asset class in early 2016, few would have hit the right answer: Gold

Aggressive buying from jewellery stockists and traders in view of the fast-approaching major gold-buying festival - Akshaya Tritiya also weighed on trade.
Don't place your bets on the yellow metal as yield on it has fallen sharply due to declining consumer interest and better investment options.