Gold Rush on Akshaya Tritiya: Sales Soar Despite Record-High Prices

The auspicious occasion, observed on April 19, saw heavy footfall at jewellery showrooms nationwide, with industry estimates pointing to significant volumes of gold purchases even as prices surged sharply over the past year.

"On the occasion of Akshaya Tritiya, overall trade across India remained very strong, with an estimated 18 to 20 tonnes of business recorded," said Rajesh Rokde, Chairman, GJC. "While South India picked up momentum early in the day, regions like Maharashtra saw increased activity post 2 PM, with stores operating late into the night to cater to sustained demand."

"Traditionally, Akshaya Tritiya is considered an auspicious time for purchases, and this year it is evident that consumer trust in the industry has strengthened further," Rokde added. "Despite gold prices rising from around Rs 90,000 per 10 grams last year to nearly Rs 1,54,000 now, interest in gold, silver, and diamonds has grown, driven both by cultural significance and investment appeal."

Industry leaders highlighted that demand remained consistent across regions, with steady buying observed from the start of the Muhurat period.

"Demand during the festival was exceptionally strong, with robust growth across our pan-India network," said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers. "Markets in North, West, and parts of South India showed particularly strong momentum."

"Intent-led bridal purchases were well complemented by traditional 'shagun' buying, including gold coins and lightweight jewellery," he noted. "With the Muhurat spanning two days, demand is expected to remain resilient. Our integration with quick-commerce platforms like Swiggy Instamart has also enabled seamless last-minute and convenience-driven purchases."

Market observers also pointed to evolving consumer preferences, particularly among younger buyers.

"We have seen approximately a 15 per cent year-on-year increase in sales, supported by healthy ticket sizes and renewed buyer confidence," said Colin Shah, Managing Director, Kama Jewelery. "A slight correction in gold prices further supported buying sentiment despite broader economic uncertainties."

"Consumer preferences are shifting, especially among first-time young buyers who are increasingly opting for lightweight, practical jewellery, including diamond-studded pieces in 9k, 14k, and 18k categories," Shah added. "While there is selective demand for traditional 22k jewellery, overall demand remains balanced, and we expect this trend to strengthen as the festive season approaches."

The silver segment also recorded steady growth across coins, artefacts, and jewellery categories, complementing gold demand. Industry stakeholders attributed the strong performance to increasing awareness around systematic and investment-driven purchases during auspicious occasions.

- ANI