Gold shines online this Akshaya Tritiya

Chennai: Gold buying on Akshaya Tritiya did not halt completely but took on the digital form as jewellers across major markets were shut due to Covid-induced lockdowns.

Considered an auspicious occasion to buy gold, this year too, like 2020, Akshaya Tritiya was celebrated under the shadow of the pandemic. Gold prices were up Rs 13 a gram at Rs 4,485 a gm in the Mumbai market on Friday.

Paytm Money witnessed a 30% year-on-year (YoY) value growth in digital gold sales on their platform this year. Paytm Money CEO Varun Sridhar said, “In the last three days, we have recorded 50kg of gold sales. The average ticket size has grown from Rs 1,600-1,700 to Rs 2,300-2,500 per transaction.” Over three years, among Paytm’s over 500 million users, more than 62 million users have purchased digital gold on their platforms.