Gold rush expected at Indian festival

The Akshaya Tritiya festival in India is traditionally a time when Hindus buy gold as they believe valuables bought on that day will bring prosperity.

It could be that high gold prices have an effect on the April 30th festival, but Prince Jewellery in Chennai believes there will still be a rush for gold purchases, Reuters reports.

The jewellery chain's director, Princeson Jose, is opening for longer hours to manage the predicted rush. "We have started taking orders in advance so that we can manage the rush better," he said.

"There will be a special counter for those who come to collect their orders, so that they don't mingle with other customers and cram the shops."

Akshaya Tritiya is one of the four most sacred days of the Hindu year. "Akshaya" means something that never diminishes – which leads to the belief that valuables bought on the day will bring success.