World
India
As gold crosses the eye-watering ₹1 lakh per 10 grams mark, Indian buyers are showing no signs of cold feet. In fact, demand is glittering brighter than ever this Akshaya Tritiya. Despite the price tag making some wallets wince, consumers are still charmed by the yellow metal—thanks to its golden track record of delivering strong returns over the past two years.
Jewellers are gearing up for a brisk business day, while commodity experts urge caution, suggesting that the current price rally may cool off soon. But for now, gold fever is very real—and buyers are happily catching it.
Gold Streak: Returns Keep Buyers Hooked
Rajesh Rokde, Chairman of the Gem and Jewellery Council of India (GJC), put it simply: returns speak louder than price tags. “Last year, on Akshaya Tritiya, the gold price was Rs 72,000/10 gm, and in 2023 it was Rs 58,000. With an annual growth rate of 20–25 per cent, this steady increase is attracting numerous buyers,” he said.
He added that India imported 802 tonnes of gold in 2024, up from 741 tonnes in 2023—a clear sign that when it comes to gold, price hikes are just part of the sparkle.
Weddings And Weights: Lighter Jewellery, Heavier Footfall For Gold
Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, is expecting more footfalls than usual—partly because this year’s Akshaya Tritiya neatly overlaps with a hectic wedding season. “We anticipate a strong turnout, both for fresh purchases and for deliveries scheduled on the day,” he said.
The rising gold prices have also led to a strategic shift in preferences, with buyers opting for lightweight and studded pieces over traditional heavy sets. And in true desi fashion, customers are getting creative—many are exchanging old gold to make way for shiny new bridal jewellery.
Caution: Prices May Lose Some Glitter
While the current gold rush has dazzled investors, experts suggest it might be wise to tread carefully. Ajay Kedia, Director at Kedia Advisory, said, “Gold has delivered an impressive return of about 32 per cent since the last Akshaya Tritiya. However, for the year ahead, it is advisable to buy gold only for ceremonial purposes, rather than with an investment motive.”
Kaynat Chainwala from Kotak Securities noted that global factors—like eased US auto tariffs and calmer investor sentiment—have already caused some price softening on international markets.
Future Forecast: Shine with a Shade of Caution
Manav Modi, Senior Analyst at Motilal Oswal Financial Services, maintained a “buy on dips” strategy. “Key support for gold is near Rs 90,000-91,000, and resistance is around Rs 99,000. Long-term targets are set at Rs 1,06,000,” he said.
For now, Akshaya Tritiya buyers continue to celebrate the tradition of prosperity—wallets a bit lighter, jewellery boxes a whole lot shinier.
(With Inputs From ANI)
