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Friday, 20th April 2007 (4382 views)

Financial providers in India are using a special celebration in the Hindu calendar to promote gold buying in the country.

Starting yesterday and running through until today, the Akshaya Tritiya celebration is renowned for the buying of gold objects, which is believed to bring lasting prosperity to purchasers, reports Reuters.

The Unit Trust Bank in India is using the occasion to unveil its gold coin-selling operation, with Anshuman Sharma, head of precious metals at the bank, saying that it had "sold a decent amount and had a lot of enquiries".

Traditionally, the precious metal has been purchased in the form of jewellery, although in recent times the banks have been attempting to incentivise consumers to purchase more coins.

Despite the price of gold being believed to be 1.5 per cent higher than last year, gold sellers have been advertising the precious metal more fervently, with its price having fluctuated in the last two years.

 

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