Despite soaring prices, gold and silver buying in India – the world’s largest consumer of gold – saw a strong start on the auspicious occasion of Akshaya Tritiya on Wednesday.
The All India Gem and Jewellery Domestic Council (GJC) projected a 35% jump in gold sales by value compared to last year.
Consumer footfalls were particularly strong in southern India during the first half of the day, with activity picking up in Maharashtra and the northern states later, despite challenging weather conditions.
Gold prices were trading between Rs99,500 ($1,528) and Rs99,900 per 10 grams across different regions – a 37.6 per cent increase from Rs72,300 recorded during Akshaya Tritiya in 2024.
Many consumers who had earlier been hesitant to buy at elevated prices have now returned to the market, encouraged by a recent stabilisation in rates, said GJC chairman Rajesh Rokade.
