Akshaya Tritiya 2026: Gold Trade Hits Rs 20,000 Cr Despite Record Prices

That marks a jump from last year's estimated Rs 16,000 crore, despite bullion rates touching unprecedented highs.

"Akshaya Tritiya has traditionally been one of India's most auspicious occasions for purchasing gold... While gold continues to dominate, the nature of purchasing is evolving significantly in response to steep price escalation," said Praveen Khandelwal, Member of Parliament from Chandni Chowk and Secretary General of CAIT.

Gold has surged from around Rs 1,00,000 per 10 grams last year to nearly Rs 1.58 lakh this year, while silver has leapt from Rs 85,000 per kg to an unprecedented Rs 2.55 lakh per kg. Rather than kill demand, CAIT said the spike is pushing consumers toward "more calculated and value-driven purchases".

"There is a clear shift towards lightweight, wearable jewellery, alongside a stronger focus on silver and diamond products. Attractive incentives such as reduced making charges and complimentary gold coins are also helping sustain consumer interest," said CAIT National President BC Bhartia.

The value-volume divergence is stark. Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation (AIJGF), an associate of CAIT, said the projected Rs 16,000 crore gold trade translates to about 10,000 kilograms (10 tonnes) at current prices. Spread across an estimated 2 to 4 lakh jewellers, that means average sales of just 25 to 50 grams per jeweller -- "clearly indicating a sharp decline in volume".

The Rs 4,000 crore silver trade equals roughly 1,56,800 kilograms (157 tonnes), implying an average of only 400 to 800 grams per jeweller during the festival. "These figures underline a critical shift: while the value of business is expanding due to rising prices, actual consumption is contracting," Khandelwal said. That explains the rising popularity of lightweight jewellery and small-denomination coins this year.

Price volatility is also making inventory management tougher for jewellers. Yet festive sentiment remains strong, with healthy footfall across markets. "Consumers are now adopting a more cautious and pragmatic approach, balancing traditional beliefs with financial discipline," Khandelwal added.

There's also a visible move toward alternatives like digital gold, Sovereign Gold Bonds, and gold ETFs, which offer liquidity, safety, and flexibility amid price swings. CAIT and AIJGF have urged jewellers to strictly follow mandatory hallmarking norms, including HUID certification, and advised customers to verify purity and authenticity.

"Akshaya Tritiya 2026 thus represents a unique convergence of tradition and modern financial prudence where faith continues to drive demand, but informed choices are redefining how India invests in gold," Khandelwal said.

- ANI