Gold purchases touch ₹12,000 crore on Akshaya Tritiya, says traders body

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Despite the steep rise in gold and silver prices, the ongoing wedding season and the traditional belief in the auspiciousness of Akshaya Tritiya contributed to healthy business activity.
Gold purchases touch ₹12,000 crore on Akshaya Tritiya, says traders body
Gold sales alone were worth ₹12,000 crore today, says CAIT. Credits: Fortune India

Despite record prices, gold and silver trade across India touched a new high today, on Akshaya Tritiya, a day considered auspicious in the country. According to the estimates of jewellery traders, gold sales alone were worth ₹12,000 crore today.

"Based on estimates, gold jewellery and related items worth approximately ₹12,000 crore were sold across the country today. In addition, silver trade was estimated at around ₹4,000 crore," states Praveen Khandelwal, National Secretary General of the Confederation of All India Traders (CAIT).

Khandelwal, also a Member of Parliament from Chandni Chowk, Delhi, stated that despite the steep rise in gold and silver prices, the ongoing wedding season and the traditional belief in the auspiciousness of Akshaya Tritiya contributed to healthy business activity. “Gold is considered one of the best forms of financial investment, which also encouraged buyers to proceed with purchases despite the high prices," he added.

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Pankaj Arora, President of the All India Jewellers and Goldsmith Federation, said gold was priced at ₹97,500 per 10 grams and silver at ₹98,000 per kilogram today. However, gold prices dropped by ₹1,000 and silver by ₹2,000 during the day, he said, adding that despite high rates, consumer interest remained steady, reflecting the deep-rooted religious and cultural significance of this auspicious occasion. According to Aror, the prices of gold and silver were significantly lower in the previous years. In 2022, gold was priced at ₹52,700 per 10 grams and silver at ₹65,000 per kg while in 2023, gold was costing ₹61,800 and silver ₹76,500 for the same quantity, he said. In early 2024, gold touched ₹74,900 per 10 grams, he added.

According to the latest data released by the World Gold Council, India’s gold demand in the first three months of the year (January-March 2025) stood at 118.1 tonnes, a 15% drop from 139 tonnes in the same period last year. “However, this decline in volume was offset by a 22% surge in the overall value of demand, propelled by soaring global gold prices, which have risen 25% since January 2025. This historic rally of gold prices reaching a record high of ₹1 lakh per 10 grams in India, has further reinforced the metal’s appeal as a safe-haven asset among Indian consumers," said Sachin Jain, Regional CEO, India, World Gold Council.

Jain also points out that investment demand for gold remained resilient, rising 7% year-on-year to 46.7 tonnes, driven by growing interest in gold ETFs, digital gold, coins, and bars during the January-March period. “Gold jewellery demand declined by 25% to 71.4 tonnes from 95.5 tonnes in Q1 2024, with elevated prices impacting affordability. Yet, the enduring cultural and seasonal significance of gold, especially ahead of key occasions like Akshaya Tritiya and the upcoming wedding season, continues to support consumer buying sentiment," he explained.

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