Demand For Gold In India Picks Up Ahead Of Akshaya Tritiya Festival

2026-04-15 03:00:41

(MENAFN- Khaleej Times) Demand for gold is picking up across India, just days before Akshaya Tritiya, that falls on Sunday, April 19. It is the second-biggest gold buying festival in the country, after Dhanteras which is celebrated during Diwali and considered the most auspicious day to buy gold.

Gold prices in Indian spot market have surged by 60 per cent since last year's Akshaya Tritiya. While prices had shot up to a record high in January, they have now come down by 16 per cent.

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Gurjodhpal Singh, CEO, Tide India, told the media that Akshay Tritiya has evolved from being just a tradition to becoming a meaningful investment opportunity.

“Beyond physical gold, digital gold and silver platforms are gaining traction, offering flexibility to invest in smaller denominations, assured purity, and liquidity, enabling consumers and small businesses to turn festive spending into smarter financial decisions,” he said.

“Increasingly, their focus is shifting towards these investment opportunities, with a growing preference towards digital gold and silver as part of their long-term business financial planning," Singh added.

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Jewellers note that consumers have started buying for the festival, but footfalls are far lower than normal.

“We anticipate strong double-digit growth this Akshaya Tritiya, driven by positive festive sentiment and a rise in planned purchases,” Saumen Bhaumik, managing director, CaratLane, told the media.

Ramesh Kalyanaraman of Kalyan Jewellers said the festival coincides with the start of the wedding season this year.“We have registered a huge volume of pre-bookings and daily enquiries at our showrooms and expect a strong uptick across both high-value bridal jewellery and traditional shagun purchases,” he told reporters.

“Gold coins remain a perennial favourite for 'shagun' (an auspicious occasion), and their popularity is being further driven by the convenience of marketplaces for last-minute purchases.”

Retailers at shopping malls also speak of vibrant footfalls days before the festival.“For organised retail destinations like ours, the festival consistently translates into a strong surge in footfall, with jewellery emerging as one of the most sought-after categories,” Jayen Naik, president, operations at Nexus Select Malls, told journalists.

“This year, despite elevated gold prices, consumer intent remains strong," Naikd added.

Toranj Mehta, vice-president, marketing, De Beers, pointed out that Akshaya Tritiya has traditionally been a gold-led occasion.

“However, it is increasingly evolving into a broader jewellery-buying moment. Younger consumers, particularly GenZ and millennials, who contribute nearly 86 per cent of the market, are expected to play a key role in driving this demand,” Mehta was quoted in media.