Mumbai: Wednesday’s festival of Akshay Tritiya witnessed a range of colourful rituals. The auspicious mahurat is believed to multiply the bounty of purchases, ceremonies and weddings performed this day.
Chief minister Devendra Fadnavis chose the occasion to move into his official residence, Varsha bungalow at Malabar Hill, five months after he took office for the third time. The family lived at Sagar bungalow when he was deputy CM. His wife Amruta posted on X that they performed a puja and a ‘gruh pravesh’ (housewarming) ceremony Wednesday. It is after a gap of five years that Fadnavis has returned to Varsha, where he lived during his first tenure from 2014 to 2019.

Lifting the mood, gold sales fared well at large jewellery stores. There was a minor correction (fall) in rates from Rs 1 lakh per 10 gm to Rs 95,000-97,000, prompting buyers and investors to cash in on the window period.
Rajesh Rokde, chairman of All India Gem and Jewellery Domestic Council (GJC), said, “After a high of 99,500, today prices fell to Rs 95,000. So people are buying today. High value clients normally do not buy in crowds. Customers who buy in crowds have a pocket size of Rs 50,000 to 5 lakh but those who want to buy worth Rs 10-15 lakh book in advance, as it takes time to select. They book 10-15 days in advance and buy at the time of mahurat.”
Kanaya Kakad, joint treasurer, IBJA (India Bullion and Jewellers Association), said, “Sales have fared above expectations nationwide, particularly in south India. Firstly, there has been a price correction to Rs 97,000. Secondly, the wedding season has started today.”
Colin Shah, MD, Kama Jewelry, said, “People are investing in gold coins and studded jewellery up to Rs 2 lakh. Young buyers are opting for daily-wear lightweight items, which indicates a rise in average ticket size of jewellery pieces between Rs 1-2 lakh. Overall, I see a rise of 10-15% as compared to last year.”
However, neighbourhood jewellers were less exuberant. Ankit Parmar of Rushabh Jewellers, Malad, said, “People are buying as per capacity, say, 5gm gold for Rs 50,000, or else silver at cheaper rates. Akshay Tritiya fares better in South India while in Mumbai Dhanteras is bigger.”
Jugal Kumar Dangi of Pushpak Jewellers in Bail Bazar, Kurla, said, “Here 70% of my sales were of silver while 30% was of gold. Customers buy silver ornaments to wear. But it has no resale value. Gold always fetches good returns.”
Meanwhile, in an Akshay Tritiya custom, temples like Mumbadevi were decorated with thousands of juicy ripe mangoes.