Gold glitters on Akshaya Tritiya: India sees Rs 16,000 crore in jewellery sales despite soaring prices

THEBUSINESSBYYTES BUREAU

NEW DELHI, APRIL 30, 2025

India’s enduring love for gold shone brightly on Akshaya Tritiya as consumers defied record-high prices, pushing jewellery and precious metal sales to an estimated Rs 16,000 crore in a single day, according to the Confederation of All India Traders (CAIT).

Gold jewellery and related items alone accounted for a staggering Rs 12,000 crore in nationwide sales, while silver trade contributed an additional Rs 4,000 crore, CAIT revealed in a statement. The surge comes even as gold touched Rs 97,500 per 10 grams and silver climbed to Rs 98,000 per kilogram — among the highest prices in India’s history.

“Despite the steep rise in gold and silver prices, the ongoing wedding season and the deep-rooted cultural significance of Akshaya Tritiya drove strong consumer sentiment,” said CAIT National Secretary General and BJP MP Praveen Khandelwal. He highlighted that gold’s reputation as a secure and long-term investment further encouraged purchases.

Interestingly, prices saw a minor drop during the day — gold by Rs 1,000 and silver by Rs 2,000 — which may have helped sustain consumer interest. However, experts noted that sentiment was powered more by tradition than market dynamics.

“Even though prices were high, demand remained resilient. The emotional and religious value attached to this day clearly outweighed price concerns,” observed Pankaj Arora, President of the All-India Jewellers and Goldsmith Federation.

Akshaya Tritiya, often associated with unending prosperity, is one of the most auspicious occasions in the Hindu calendar. The term Akshaya means “eternal” or “never diminishing,” and it’s widely believed that any venture or purchase made on this day brings lasting success and wealth.

Compared to 2022, when gold was priced at Rs 52,700 per 10 grams and silver at Rs 65,000 per kg, the dramatic price rise in 2025 has not deterred India’s affinity for these timeless assets.

“Gold symbolises purity, prosperity, and wealth. That’s why the gold and silver trade always sees a massive spike on Akshaya Tritiya. Jewellers, goldsmiths, and artisans across the country eagerly await this day every year,” said CAIT National President B.C. Bhartia.

With robust footfalls reported at jewellery outlets across major cities and smaller towns alike, this year’s Akshaya Tritiya has reaffirmed the country’s unwavering trust in gold — not just as ornamentation, but as a symbol of cultural wealth and economic resilience.