Although consumers might show hesitation to buy gold this Akshaya Tritiya due to the high price of the yellow metal, jewellers are hoping for positive sales on the day of Akshaya Tritiya, which falls on April 30. A section of the jewellers said that coloured gemstones are likely to witness demand among the consumers.
Rajesh Rokde, Chairman of All India Gem and Jewellery Domestic Council (GJC), said, “Akshaya Tritiya holds immense cultural significance in India, traditionally marking a surge in gold purchases. This year, despite the elevated prices, we anticipate a healthy demand driven by both investment and festive buying. While some consumers might initially hesitate, the appeal of gold as a safe-haven asset is likely to translate into positive sales.”
Recent trends indicate a strong and sustained upward trajectory in gold prices, influenced by a confluence of global economic factors and robust domestic demand. Geopolitical uncertainties, coupled with a weakening dollar and consistent central bank buying, have fuelled this rally, bringing us to near record levels.
Avinash Gupta, Vice-Chairman of GJC, said, “Akshaya Tritiya dawns upon a gold market reflecting global economic dynamics. We have observed a firming trend in gold prices, underpinned by factors like geopolitical tensions and currency fluctuations. This has created a unique scenario as we approach this auspicious festival, traditionally a high-demand period for gold. While the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying.”
Alongside gold, there is also a growing interest in high-quality gemstones as an
emerging asset class. Many buyers are seeking more personal, expressive pieces in emerald, ruby and sapphire, where colour plays a role. Gemstones n have also demonstrated strong
value appreciation over time, offering consumers a distinctive way to mark tradition while investing
in assets, said Ankur Daga, Founder and CEO of Angara.
The gold market cooled off to $3300 (Rs 95000) after reaching $3500 (Rs 99350) last week as Donald Trump signalled a potential softening of his aggressive trade stance toward China and indicated that tariff negotiations were underway.
“While market tensions have subsided, uncertainty remains high enough to sustain gold prices at their current levels. While President Donald Trump claims his government has begun trade discussions with China, he has stated that the US will be reasonable in terms of tariffs and that markets are reacting to tariff policies. He also stated that Iran’s situation is progressing nicely and proposed a possible interim agreement with Iran,” said Renisha Chainani, Head of Research at Augmont Gold.
Rajesh Rokde, Chairman of All India Gem and Jewellery Domestic Council (GJC), said, “Akshaya Tritiya holds immense cultural significance in India, traditionally marking a surge in gold purchases. This year, despite the elevated prices, we anticipate a healthy demand driven by both investment and festive buying. While some consumers might initially hesitate, the appeal of gold as a safe-haven asset is likely to translate into positive sales.”
Recent trends indicate a strong and sustained upward trajectory in gold prices, influenced by a confluence of global economic factors and robust domestic demand. Geopolitical uncertainties, coupled with a weakening dollar and consistent central bank buying, have fuelled this rally, bringing us to near record levels.
Avinash Gupta, Vice-Chairman of GJC, said, “Akshaya Tritiya dawns upon a gold market reflecting global economic dynamics. We have observed a firming trend in gold prices, underpinned by factors like geopolitical tensions and currency fluctuations. This has created a unique scenario as we approach this auspicious festival, traditionally a high-demand period for gold. While the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying.”
Alongside gold, there is also a growing interest in high-quality gemstones as an
emerging asset class. Many buyers are seeking more personal, expressive pieces in emerald, ruby and sapphire, where colour plays a role. Gemstones n have also demonstrated strong
value appreciation over time, offering consumers a distinctive way to mark tradition while investing
in assets, said Ankur Daga, Founder and CEO of Angara.
The gold market cooled off to $3300 (Rs 95000) after reaching $3500 (Rs 99350) last week as Donald Trump signalled a potential softening of his aggressive trade stance toward China and indicated that tariff negotiations were underway.
“While market tensions have subsided, uncertainty remains high enough to sustain gold prices at their current levels. While President Donald Trump claims his government has begun trade discussions with China, he has stated that the US will be reasonable in terms of tariffs and that markets are reacting to tariff policies. He also stated that Iran’s situation is progressing nicely and proposed a possible interim agreement with Iran,” said Renisha Chainani, Head of Research at Augmont Gold.
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