India's Akshaya Tritiya: Gold and Silver Shine Amid Record Prices

Gold and silver sales surged during Akshaya Tritiya, with jewellers anticipating steady volumes despite high prices. The GJC predicts a 35% increase in sales value. Demand is driven by tradition and weddings, with younger consumers increasingly investing in precious metals despite affordability challenges.

On Akshaya Tritiya, gold and silver sales witnessed an upswing, as consumers flocked to make purchases despite soaring prices. Jewellers across India reported that the tradition of buying precious metals on this auspicious day has remained robust.

The All India Gem and Jewellery Domestic Council forecasts a notable 35% rise in sales value compared to the previous year, driven by both traditional and festive buying. In Delhi, gold prices surged to Rs 98,550 per 10 grams, showcasing a significant jump from last year's figures.

The festival, predominantly observed in southern India, has gained nationwide traction, with consumers seeking out high-demand items such as gold mangal sutras and chains, alongside silver utensils. Even young buyers, aged between 25-40, participate actively in the market, bolstering the optimistic sales projections.

(With inputs from agencies.)