Govt to launch Ashoka Chakra, Mahatma Gandhi embossed gold coins on Akshaya Tritiya

The government will celebrate Akshaya Tritiya with the launch of gold coins embossed with the Ashoka Chakra and Mahatma Gandhi.

The government is set to launch two new gold coins on Monday, May 9, on the occasion of Akshaya Tritiya. 

Govt launching gold coins bearing Ashok Chakras image on the occasion of Akshaya Tritiya. pic.twitter.com/XETvoyz0Rf

— All India Radio News (@airnewsalerts) May 8, 2016

Govt launching gold coins bearing Mahatma Gandhi image on the occasion of Akshaya Tritiya. pic.twitter.com/kgMo28LGPB

— All India Radio News (@airnewsalerts) May 8, 2016

Akshaya Tritiya is considered to be a gold buying festival as it's considered auspicious to pick up the yellow metal on the day.

As can be seen in the picture, the gold coin bearing Mahatma Gandhi's seal will be a 5 gram coin, while the one with the Ashok Chakra will be a 10 gram coin.

Every year, jewellers wait for the festival as demand goes up significantly. This year too, jewellers are looking forward to Akshaya Tritiya, especially after the long jewellers' strike against excise duty hike made them keep their shutters down for over 45 days.

Despite the auspicious occasion to buy gold, many jewellers expect negative to marginal growth compared to last year, on the back of rising gold prices, which is ruling at over Rs 30,000 per 10 grams.

However, the sale of gold coins may go up as customers usually come in and buy only a gold coin as a token on the festival.