Mumbai: Akshaya Tritiya is likely to generate business worth over Rs 20,000 crore in gold and silver this year, according to Confederation of All India Traders. This is a big jump from last year’s estimated Rs 16,000 crore, showing strong demand despite record-high prices.
Why This Festival Matters?
Akshaya Tritiya is considered one of the most शुभ (auspicious) days in India to buy gold. People believe that buying gold on this day brings long-term prosperity and wealth, which keeps demand strong every year.
Prices at Record High Levels
Gold prices have risen sharply from around Rs 1,00,000 per 10 grams last year to nearly Rs 1.58 lakh this year. Silver has also surged from Rs 85,000 per kg to about Rs 2.55 lakh per kg.
According to Praveen Khandelwal, these high prices have not reduced demand but have changed how people are buying.
Change in Buying Behaviour
Consumers are now more careful and value-focused. Instead of buying heavy jewellery, many are choosing lightweight and affordable options.
BC Bhartia said jewellers are adapting by offering lighter, wearable jewellery, along with more silver and diamond products. Discounts on making charges and free gold coins are also being offered to attract buyers.
Value Up, Volume Down
Even though total business value is rising, the actual quantity of gold and silver being sold is falling.
As per All India Jewellers and Goldsmith Federation data shared by Pankaj Arora, Rs 16,000 crore worth of gold equals about 10 tonnes. This means each jeweller may sell only 25–50 grams on average.
Similarly, Rs 4,000 crore silver trade equals around 157 tonnes, with each jeweller selling just 400–800 grams on average.
Shift to New Investment Options
Many buyers are also moving towards modern options like digital gold, Sovereign Gold Bonds, and ETFs. These options are safer, more flexible, and easier to buy and sell, especially when prices are volatile.
