Gold demand is expected to surge today, the God of Wealth Day which falls on the 10th day of the lunar year.Legend has it that the god returns to heaven on this day every year, and people think buying some gold brings good luck and prosperity throughout the year.Gold and jewellery companies have stocked up on gold pieces with the words Phúc (Happiness), Lộc (Prosperity) or Tài (Wealth) and the images of the 12 animals of the zodiac inscribed on them.
They have also launched many products with the image of the pig since this is the Year of the Pig.According to gold companies, since the God of Wealth Day coincides with Valentine’s Day this year, they have also launched a wide range of jewellery items to meet the demand for gifting.
Phú Nhuận Jewelry Joint Stock Company (PNJ) has launched vividly carved figurines of pigs made from 24k gold and weighing 0.5 tael (a tael equals 37.5g).It has also launched gold pieces with Tài – Lộc etched on them and Phúc-Lộc-Tài, God of Wealth and Bodhisattva figurines made from 24k gold, 24k gold-plated pig figurines, jewellery collections made from 18k or 24k gold, and feng shui-inspired pixiu bracelets and bracelets with gold pigs.
It also has collections of diamond, gold and silver jewellery items with youthful designs for Valentine’s Day.PNJ is also selling gold online with the price fixed at the time a customer places the orders and delivery done on the Gold of Wealth Day.Other major players like DOJI, Sacombank-SBJ and SJC have also launched new collections.
DOJI offers 24k items in blister packs, gold coins inscribed with the image of the pig, golden pig figurines, gold-plated handicrafts, and others.SJC has launched a lucky gold series with pieces inscribed with images of the God of Wealth, Maitreya and the words Phúc, Lộc, Thọ besides “lucky” coins.Võ Hoàng Huy, regional retail sales manager at PNJ , said demand for gold on God of Wealth Day is expected to be higher than in the past.So his company’s stores would open earlier and close later than usual on the day and keep gold prices steady, he added.
Source:- http://www.bullionbulletin.in