Silver sales were pegged at ₹4,000 crore.
Jewellers and trade associations across the country reported steady footfalls and healthy consumer sentiment, driven by the ongoing wedding season and the cultural significance of buying precious metals on
Akshaya Tritiya.
“Despite high prices, demand was strong. People came out to buy, especially due to wedding purchases and the tradition associated with the day,” said CAIT Secretary General and BJP MP Praveen Khandelwal.
Gold prices near ₹1 lakh but demand remains strong
Gold prices hovered between ₹99,500 and ₹99,900 per 10 grams — nearly 38% higher than last year’s ₹72,300.
Yet, buyers adapted.
“Prices have cooled slightly from earlier peaks. Consumers who were waiting are now making purchases,” said Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council (GJC).
Rokde estimated gold sales to remain close to last year’s 20 tonnes in volume, but projected a 35% jump in value terms.
Old gold exchange, lab-grown diamonds gaining popularity
Jewellers reported that nearly half of the purchases were financed by exchanging old gold — a trend helping customers manage high costs without scaling down wedding or festive plans.
“Volume may dip by 8-9%, but value is up 20-25%. That shows a healthy market,”
“Akshaya Tritiya continues to be the single largest gold-buying day across India, with the auspicious mahurat spanning from morning till midnight today. So far, customer response has been very welcoming and appears to be at par with this year’s Gudi Padwa, which delivered exceptional sales for us,” said Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, adding, “Volumes may dip by 8-9%, but value is up 20-25%. That shows a healthy market.”
“We are witnessing steady interest in gold, diamond, and silver jewellery. Despite record-high gold prices, consumer sentiment remains upbeat, and people have accepted the price trend and are buying with confidence,” Gadgil noted.
Trends also showed a rise in purchases of studded jewellery and lab-grown diamonds, especially among younger consumers.
“A significant number of buyers aged 25-40 are entering the market. They’re choosing coins, bars, and lightweight jewellery as per their budget,” noted GJC’s Rokde.
Lisa Mukhedkar, CEO of Aukera, added that lab-grown diamonds saw increased interest this year.
South India leads, weather impacts footfalls in North
Consumer turnout was strongest in South India during the first half of the day. States like Maharashtra and northern regions saw footfalls rise later in the day, as extreme heat kept shoppers indoors during the morning.
Pankaj Arora, President of the All India Jewellers and Goldsmith Federation, echoed the ₹16,000-crore sales estimate, projecting 12 tonnes of gold and 400 tonnes of silver sold nationwide.
Outlook remains positive
India, which imports 700-800 tonnes of gold annually, continues to see consistent demand for the yellow metal despite surging prices.
“Affordability has taken a hit, but buying sentiment remains intact due to the occasion,” said Sachin Jain, CEO of World Gold Council India.
–With inputs from agencies
