Akshaya Tritiya 2026: Gold demand strong even as prices hit record highs

New Delhi: Akshaya Tritiya is expected to drive gold and silver sales worth over ₹20,000 crore this year, marking a sharp rise from last year’s ₹16,000 crore, according to the Confederation of All India Traders.

Traditionally considered an auspicious occasion for gold purchases, Akshaya Tritiya continues to fuel strong demand, even as record-high prices reshape consumer behaviour.

“While gold remains dominant, buying patterns are evolving due to steep price escalation,” said Praveen Khandelwal, Secretary General of CAIT.

Gold prices have surged from around ₹1,00,000 per 10 grams last year to nearly ₹1.58 lakh, while silver prices have jumped from ₹85,000 per kg to about ₹2.55 lakh — significantly altering purchasing trends.

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According to CAIT, higher prices have not dampened demand but triggered a shift towards value-driven buying, with consumers opting for smaller quantities and more affordable options.

B C Bhartia said jewellers are adapting by promoting lightweight and wearable jewellery, along with increased focus on silver and diamond products. Incentives such as lower making charges and complimentary gold coins are also being offered to attract buyers.

Despite higher overall trade value, volumes are expected to decline.

Data shared by Pankaj Arora of the All India Jewellers and Goldsmith Federation indicates that ₹16,000 crore in gold sales would translate to roughly 10 tonnes nationwide — averaging just 25–50 grams per jeweller.

Similarly, the silver trade worth ₹4,000 crore is projected at around 157 tonnes, with average sales of 400–800 grams per jeweller.

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“These trends highlight a clear shift — while business value is rising due to higher prices, actual consumption is declining,” Khandelwal said, pointing to growing demand for lightweight jewellery and small-denomination coins.

The report also noted increasing interest in alternative investment options such as digital gold, Sovereign Gold Bonds and gold ETFs, which offer greater liquidity and flexibility amid price volatility.

IANS