Lightweight Jewellery, Bars, and Coins to Drive Gold Demand This Akshaya Tritiya Amid Record-High Prices

With gold prices nearing Rs 1 lakh per 10 grams, jewellers are pinning their hopes on lightweight jewellery, gold bars, and coins to fuel consumer purchases this Akshaya Tritiya, an occasion traditionally associated with buying precious metals. The festival, considered highly auspicious for investments in gold, falls on April 30 this year.

All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde expressed optimism despite soaring prices. "As we approach Akshaya Tritiya, the market is vibrant with anticipation. Although elevated prices may initially deter some buyers, the strong cultural significance of gold and its reputation as a safe-haven asset are expected to sustain demand," Rokde told PTI. He noted that jewellers are introducing a range of products to cater to varied budgets, with a focus on lighter designs.

Gold was trading softer at Rs 95,075 per 10 grams on Friday on the MCX, as global prices faced resistance near USD 3,330 per ounce.
GJC Vice-Chairman Avinash Gupta highlighted that while some consumers may act cautiously, the traditional importance of gold buying during Akshaya Tritiya would likely ensure a steady momentum. "Higher prices might result in flat or slightly lower volumes compared to last year, but innovation in jewellery designs is helping to meet diverse consumer preferences," he said.

World Gold Council Regional CEO (India) Sachin Jain described the current phase as "gold’s era," with global prices soaring 25% since January and setting new records at USD 3,500 per ounce. In India, gold prices have touched a historic high of Rs 1 lakh per 10 grams, reaffirming the metal’s enduring value. Jain noted that consumer interest is strong across various formats, including high-carat jewellery, gold ETFs, digital gold, coins, and bars. Despite challenges like tariff uncertainties, jewellers remain well-stocked and optimistic about festive and wedding season sales.

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Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, acknowledged that while volumes have been under pressure due to the persistent price rise, the sentiment remains positive. "With Akshaya Tritiya coinciding with the start of a busy wedding season, we expect consumer turnout similar to the robust sales witnessed during Gudi Padwa," he said. Gadgil also expects gold bars and coins to perform well, as consumers continue viewing gold as a reliable long-term investment.

Jewellers are closely watching the next 10 days, which will be crucial in setting the tone for festive sales. Overall, the industry remains upbeat about a promising Akshaya Tritiya despite the historic highs in gold prices.