Gold purchase on Akshaya Tritiya
This time, a 25 percent jump in business is expected on Akshaya Tritiya. According to the Confederation of All India Traders (CAIT), sales of precious metals are expected to reach record levels in Akshaya Tritiya 2026. However, due to skyrocketing prices the way of buying gold and silver in India is changing, and this time the business is estimated to be more than Rs 20,000 crore. This is a huge jump from last year’s estimated Rs 16,000 crore, even as bullion rates have reached an all-time high. Praveen Khandelwal, MP from Chandni Chowk and General Secretary of CAIT, said that Akshaya Tritiya has traditionally been one of the most auspicious occasions to buy gold in India… While on one hand the dominance of gold continues, on the other hand due to the huge increase in prices, the purchasing pattern is also changing a lot.
Changing shopping trends
While last year the price of gold was around Rs 1,00,000 per 10 grams, this year it has increased to around Rs 1.58 lakh. Similarly, the price of silver has increased from Rs 85,000 per kg to a record Rs 2.55 lakh per kg. CAIT says that instead of this surge in prices reducing demand, consumers are moving towards “more informed and economical purchasing”. CAIT National President BC Bhartia said that now people are preferring light weight and wearable jewellery, and their attention has also increased on silver and diamond products. Attractive offers like discount in making charges and free gold coins are also helping in maintaining the interest of consumers.
price high volume low
Pankaj Arora, national president of ‘All India Jewelers and Goldsmiths Federation’ (AIJGF), an organization associated with CAIT, said that the estimated gold trade of Rs 16,000 crore means that about 10,000 kg (10 tonnes) of gold will be sold at the current prices. If these sales are distributed among an estimated 2 to 4 lakh jewellers, it means that each jeweler will be able to sell, on an average, only 25 to 50 grams of gold — “which clearly indicates a huge decline in volume.” Similarly, the Rs 4,000 crore silver trade means sales of about 1,56,800 kg (157 tonnes) of silver; which means that on an average, every jeweler will sell during this festival. Will be able to sell only 400 to 800 grams of silver. Khandelwal said that these figures show an important change: while the cost of trading is increasing due to rising prices, the actual consumption is decreasing.
Focus towards digital gold
For this reason, the popularity of light jewelery and low cost coins is increasing this year. Due to fluctuating prices, it is becoming difficult for jewelers to manage inventory. Nevertheless, the festive atmosphere is still in full swing and a good crowd of customers is being seen in the markets. Khandelwal further said that customers are now adopting a more cautious and sensible attitude, and are keeping in mind their traditional beliefs as well as financial discipline. Apart from this, people are now also turning to other options like digital gold, sovereign gold bonds and gold ETFs. These options provide liquidity, security and flexibility amid price fluctuations.
