&w=3840&q=100)
Akshaya Tritiya: Mumbai witness gold rush as Delhi markets go quiet
Gold demand remained strong in Mumbai this Akshaya Tritiya, even as markets in Delhi saw a sharp drop in footfall. Though prices have eased from their peak of ₹1 lakh per 10 grams earlier this month, they remain elevated, dampening demand in the national capital.
In contrast, Mumbai's jewellery markets saw brisk sales. The Bombay Bullion Association expects at least 100 tonnes of gold to be sold by the end of the day — a stark contrast to the muted activity in Delhi.
Jewellery stores in Mumbai's Zaveri Bazaar opened two hours earlier than usual, with customers queuing up from early morning.
'Gold coins are in high demand this Akshaya Tritiya. Around 40 per cent of Wednesday's purchases were coins, and the rest, jewellery,' said Kumar Jain, national spokesperson for The Bombay Bullion Association.
As of Wednesday 5 pm, 62 tonnes of gold had been sold in Mumbai, with volumes expected to touch 100 tonnes by nightfall. Last year, the city saw 82 tonnes of gold sold on the same occasion.
The price of 24-carat gold in Mumbai stood at ₹97,600 per 10 grams, while 22-carat gold was priced at ₹92,000 per 10 grams.
In Delhi, however, shops wore a deserted look. Demand was down by 50 per cent, with high prices deterring buyers.
'Shops across Delhi's markets shut by 7 pm on Wednesday. I closed my store early and found similar scenes elsewhere,' said Yogesh Singhal, chairman of the All Bullion & Jewellers' Association.
He added that customers didn't come in to exchange old gold today as it is an auspicious day. While the average ticket size remained around ₹1 lakh, fewer pieces were sold. 'Many customers opted for lightweight gold jewellery or even silver coins,' he said.
Customers have otherwise been coming in to exchange old jewellery as gold prices are trending higher.
In Delhi, 24-carat gold was priced at ₹98,000 per 10 grams, while 22-carat gold was selling for ₹90,000 per 10 grams.
Meanwhile, Mumbai-based jeweller Popley & Sons reported steady sales volumes compared to last year, though the overall value was higher.
'We've seen a clear shift towards diamond jewellery this year. Urban buyers are more inclined to flaunt diamonds, especially with prices being relatively low. A one-carat solitaire now rivals the value of two gold bangles,' said Rajiv Popley, director of Popley Group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Wire
31 minutes ago
- The Wire
Young Workforce is Rapidly Declining For Top Tech Companies: Report
New Delhi: Age is catching up for two of India's leading IT companies – Tata Consultancy Services Ltd (TCS) and Infosys Ltd – as they are witnessing a sharp decline in their young workforce, Mint reported. The shrinking number of employees under 30, as stated in the companies annual reports, have raised concerns over the sustainability of the traditional employee pyramid model. According to the report, at the end of FY25, just 47.7% of TCS employees in India were below 30, down from 59% in FY22, implying that the company had 44,542 fewer young employees than it had three years ago. Meanwhile, at Infosys, only 52% of its 323,578 employees were equal to or under 30 years of age at the end of FY25, down from 60% in FY22 – signalling a net drop of about 17,609 younger employees. According to the daily, one of the reasons could be that automation is eliminating a significant chunk of entry-level jobs, signalling broader shifts in the IT services market. With automation tools on offer, the need for younger employees who typically handled customer support roles has reduced. As a result, young graduates are more drawn to startups, software product makers, or tech centres of global firms like Google and Microsoft. These also allow them better pay, faster growth and more creative work, according to some analysts. Another reason is that the traditional pyramid model may now be dated causing companies to see their margins erode. According to the report, TCS's revenue in FY25 rose only 3.78% to USD 30.18 billion – slowest in four years – while Infosys's revenue growth was also sluggish at 3.85%, touching USD 19.28 billion. Economic uncertainty One of the other major reasons why the growth has noticeably slowed down now is because global clients are cutting back on tech spending due to economic uncertainty. A Mumbai-based analyst told Mint that slow hiring was a result of the sluggish demand for IT services. 'IT services providers hire junior employees, most of whom fall under 30, when there is high demand for tech services. This was the case in FY22 when plenty of freshers were added. Now, because growth has been a little sluggish, hiring has been low, and which is why we see fewer young people.' In FY22, TCS and Infosys had added over 157,000 employees combined whereas in FY25, that number dropped to 12,771. According to the report, this also shows up in campus placement data of engineering colleges as they report lesser offers from the top IT service companies. Final-year students who would typically receive early offers from these firms are now seeking opportunities at software product firms, fintech startups, or hunting for overseas universities instead. Bigger issue abroad The issue of ageing workforce becomes more pressing in key markets abroad as the firms are losing their appeal among young job seekers. In North America, which contributes over half of TCS's revenue, more than 20% of its workforce is over 50 years old, the daily stated. In Europe, nearly 28% of its employees are above 50. On the other hand, Infosys received 4.46 million job applications in FY25—a 24% drop from FY22. The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.
Time of India
35 minutes ago
- Time of India
Why media careers are booming and how to choose the right institute to get there
From immersive storytelling on OTT platforms to AI-enhanced newsrooms, the media landscape is undergoing a seismic shift. With every scroll and click reshaping how stories are told and consumed, demand for skilled, adaptable professionals is surging. The stakes are higher, and so are the expectations from both audiences and employers. For students aspiring to make a mark in journalism, advertising, digital content, public relations, or media management, this evolution presents both opportunities and challenges. Especially when it comes to the first big decision- choosing the right institute to prepare them for the world ahead. What defines a future-ready media institute? 1. Curriculum that mirrors industry shifts Modern media roles demand more than just textbook knowledge. Institutes must offer courses that reflect industry realities, such as data-led journalism, influencer marketing, content strategy, podcasting, and immersive video production. Flexibility to learn new tools and respond to fast-evolving trends should be built into the curriculum. 2. Strong placement track record One of the most critical metrics for students and parents alike, placement performance reflects how well-connected an institute is to the industry. Look for programmes that have long-standing relationships with top media companies and offer internship pipelines, mentorship, and alumni support. 3. Infrastructure that simulates real-world conditions Gone are the days when classroom learning was enough. Today, high-end production studios, digital editing suites, radio and TV labs, and access to software like Adobe Creative Suite or AI-based content tools are essential for hands-on learning and creative experimentation. 4. Real-world exposure and flagship initiatives Participation in industry-led projects, film festivals, and panel discussions helps bridge the gap between theory and practice. Institutes that facilitate such exposure prepare students to confidently transition from campus to career. Why AIMC stands out among Delhi's media colleges Institutes like Apeejay Institute of Mass Communication (AIMC) , which are consistently ranked among Delhi's top private media colleges, have begun integrating new-age modules into their mainstream coursework, offering students a head start in future-facing roles. According to recent HANSA and MDRA surveys*, AIMC has been ranked the No.1 private media institute in Delhi for five consecutive years, a validation of both its curriculum strength and career outcomes. Its programmes in journalism, PR, advertising, digital content, and TV/radio production are designed with real-world applicability in mind. The faculty comprises industry experts and media practitioners. Students gain access to high-definition (HD) production studios, Mac-based editing setups, drone video tools, and the full Adobe Creative Suite, equipping them with the resources to transform their ideas into compelling content. The institute also stands out for its flagship initiatives, including the We Care Film Festival on disability awareness, Media Chaupal interactive forums, and the Academic-Industry Orientation program. Perhaps most importantly, AIMC shares that it supports students with 100% placement assistance through its strong industry networks and alumni connections. Invest in the right launchpad The media world is full of promise, but also unpredictability. The right institute can provide aspiring professionals with the stability, support, and skills they need to not only survive but also thrive. Whether you're a student or a parent making a career decision, evaluating institutes based on curriculum, infrastructure, industry connections, and long-term relevance is the best place to begin. To explore programmes at AIMC, visit Reference/s: *
NDTV
40 minutes ago
- NDTV
Indian Railways To Make Aadhaar Linking Mandatory For Tatkal Booking To Ensure Fairness
The Indian Railway Catering and Tourism Corporation (IRCTC) will make it mandatory for users to link their Aadhaar numbers and login IDs while booking train tickets under the Tatkal quota in order to make the process fair and glitch-free. The move will bar people from booking multiple Tatkal tickets simultaneously, which affects genuine users. "Indian Railways will soon start using e-Aadhaar authentication to book Tatkal tickets. This will help genuine users get confirmed tickets during need," Railway Minister Ashwini Vaishnaw recently said on X. Bharatiya Railways will soon start using e-Aadhaar authentication to book Tatkal tickets. This will help genuine users get confirmed tickets during need. — Ashwini Vaishnaw (@AshwiniVaishnaw) June 4, 2025 "The Ministry of Railways, Railway Board, hereby notifies that the Centre for Railway Information System (CRIS) be allowed to perform Aadhaar authentication, on a voluntary basis, to establish the identity of ticket-checking staff, crew members and passengers, using Yes/No or eKYC authentication facility," noted a Gazette notification dated May 27, 2025. An IRCTC official told PTI recently that the Indian Railway has deployed Artificial Intelligence-based advanced technical solutions to curb unauthorised ticketing practices. The system detects and deactivates such user IDs before they can disrupt the booking system. As per the news agency, the move is already making progress as the creation of new user IDs on the IRCTC platform dropped from 60,000 to 65,000 per day to just 10,000 to 12,000. IRCTC has also blocked 35 million fraudulent user IDs, the official said. "Let's presume that a person named A approaches an unauthorised agent to get a ticket booked from Delhi to Agra. The agent will use several disposable email IDs (using domain names available on Google) and mobile numbers to create, let's say, 30 profiles on the IRCTC platform," the officials told PTI while explaining the process. The email ID becomes invalid, the profile, however, remains after authentication, which is used by unauthorised agents to book a ticket for a person. Hence, the agents have 30 attempts to book a ticket for that one person. Public outcry over Tatkal booking issues Several people have raised issues they face while booking the Tatkal tickets from the IRCTC website, with most recently Dr A. Velumani, the founder of Thyrocare, calling it "betrayal". Dr Velumani shared a viral image on his X account, which noted, "Tatkal booking on IRCTC has become a joke. Seats show available, but the moment it turns 10 AM, the site hangs. By 10:03, all seats are gone - even in remote routes. And then at 10:04, the site suddenly becomes smooth again, as if nothing happened."
