Today is Akshaya Tritiya; Will gold sales soar? Traders optimistic despite record-high prices

Kochi, Kerala: With Akshaya Tritiya, considered one of the most auspicious days for buying gold in India, falling on Sunday this year, jewellers across the state are hoping for strong sales despite record-high prices.

The day traditionally witnesses one of the highest daily gold purchases in the country, and traders in Kerala expect demand to remain steady even as price pressures continue to worry the market.

In 2025, nearly 1,500 kg of gold was sold in the state on Akshaya Tritiya (April 30), though this was about 200 kg lower than the previous year. While the number of buyers increased, the total volume declined, largely due to rising prices.

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This year, gold prices have remained at elevated levels. Compared to last year’s Akshaya Tritiya price of ₹71,840 per sovereign, rates have surged by over 59%. On Saturday, the price touched ₹1,14,240 per sovereign, an increase of ₹42,400 in a year. International gold prices have also remained firm, rising from $3,311 last year to around $4,829 now, an increase of over $1,500.

Despite the steep rise, jewellers remain optimistic about sales. Kerala has around 12,000 jewellery outlets, and industry estimates suggest that up to five lakh families may purchase gold on Sunday, including pre-booked customers.

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However, changing buying patterns are evident. With higher prices, demand is expected to shift toward lightweight jewellery and lower-karat products. Items such as nose pins, earrings, coins, bangles, and small chains are expected to see stronger interest.

On Saturday, 18-karat gold was priced at ₹94,320 per sovereign, while 9-karat gold stood at ₹47,120, making lower-carat jewellery a more attractive option for many buyers this season.