Gold Prices Surge Ahead of Akshaya Tritiya: 24K Gold Nears ₹98,000 as Festive Demand Soars
📅 Date: April 29, 2025
Gold Prices Surge Ahead of Akshaya Tritiya :
As India gears up for the auspicious occasion of Akshaya Tritiya, the gold market has witnessed a significant rise in prices across the country. After four consecutive days of decline, gold rates rebounded on April 29, with 24-carat gold nearing ₹98,000 per 100 grams, reflecting a surge in consumer demand ahead of one of the most sacred days in the Hindu calendar.
This rise comes as no surprise to traders and analysts who have long observed a consistent pattern of increased gold purchases during major Indian festivals. Considered a symbol of prosperity and good fortune, gold holds deep cultural and religious significance, and buying it during Akshaya Tritiya is believed to bring wealth and longevity.
Today’s Gold Rates Across India
Gold Prices Surge Ahead of Akshaya Tritiya : According to the latest figures:
- 24K Gold: ₹9,797 per gram | ₹97,970 per 10 grams
- 22K Gold: ₹8,980 per gram | ₹89,800 per 10 grams
- 18K Gold: ₹7,348 per gram
These prices vary slightly based on city and state-level taxes, but the average remains consistent nationwide. In key metros like Delhi, Mumbai, Chennai, and Kolkata, rates are hovering close to the national averages.
Why Are Gold Prices Rising?
Gold Prices Surge Ahead of Akshaya Tritiya : This recent uptick in domestic prices contrasts with international trends, where spot gold prices dipped due to a stronger US Dollar and easing geopolitical tensions. On the Multi Commodity Exchange (MCX), gold futures for June 2025 traded at ₹95,340—down 0.71% by mid-morning—reflecting speculative corrections.
Still, local demand has remained resilient. Traders attribute this to:
- Cultural sentiment around Akshaya Tritiya
- Recent price drops that prompted anticipatory buying
- Limited domestic supply as jewellers replenish their stock
- Fluctuating global indicators, especially the US-China trade outlook
Expert Views and Market Predictions
Gold Prices Surge Ahead of Akshaya Tritiya : Market analysts suggest the rally might continue if demand holds strong. Nirmal Bang, a leading brokerage firm, has recommended a buying strategy with a short-term target of ₹95,800–96,200 per 10 grams.
Meanwhile, ICICI Securities notes that while gold is expected to face global hurdles at USD 3,350/oz, uncertainty in international trade negotiations may offer support to bullion prices in the long run.
Some analysts caution that after the Akshaya Tritiya spike, prices may stabilize or slightly drop if global headwinds intensify or if the US Dollar strengthens further.
City-wise Gold Prices Snapshot
Gold Prices Surge Ahead of Akshaya Tritiya : Here’s a quick look at gold prices in some of India’s major cities:
| City | 24K Gold (₹/10g) | 22K Gold (₹/10g) |
|---|---|---|
| Delhi | ₹98,120 | ₹89,950 |
| Mumbai | ₹97,970 | ₹89,800 |
| Chennai | ₹98,120 | ₹89,950 |
| Hyderabad | ₹97,970 | ₹89,800 |
| Bangalore | ₹98,020 | ₹89,850 |
| Kolkata | ₹97,970 | ₹89,800 |
Jewellery Industry Reacts
Gold Prices Surge Ahead of Akshaya Tritiya : Jewellers across India are witnessing increased footfall, both online and offline. Several major chains have rolled out festive discounts, offering:
- 0% making charges on select items
- EMI schemes and cashback offers
- Special Akshaya Tritiya gold coins and ornaments
A leading jeweller in Delhi told us, “Customer sentiment has turned positive. Many people waited for today to invest in gold. We expect sales to rise by at least 15% over last year.”
Is It the Right Time to Buy?
Gold Prices Surge Ahead of Akshaya Tritiya : Experts are divided. While Akshaya Tritiya offers symbolic value, investors should also weigh:
- Global trends in the US Dollar
- Interest rates in India
- Potential inflation in coming months
- Long-term goals (jewellery vs investment)
If you’re looking to buy gold for long-term wealth, some advisors recommend purchasing now in small quantities, especially if prices fall post-festival.
For short-term investors or traders, keep an eye on MCX and global price charts. Gold ETFs and sovereign gold bonds are also popular investment alternatives that offer liquidity and tax benefits.
What Consumers Are Saying
Gold Prices Surge Ahead of Akshaya Tritiya : We spoke to several gold buyers in Kanpur, Bengaluru, and Ahmedabad. Most cited tradition, auspicious timing, and the fear of further price hikes as key reasons for their purchase.
One buyer in Mumbai said, “Even if prices are high, buying gold on Akshaya Tritiya is about tradition and belief. We can always invest more later for returns.”
Bottom Line
Gold Prices Surge Ahead of Akshaya Tritiya, As India marks Akshaya Tritiya, gold continues to sparkle—both culturally and economically. Whether you’re buying for tradition, investment, or gifting, it’s clear that gold remains an emotion for millions of Indians. Despite global headwinds, domestic demand and festive spirit are keeping the market buoyant.
If you’re planning to make a purchase today, be sure to compare rates across jewellers, ask for a proper bill and hallmark certificate, and if possible, consider digital gold or gold bonds for safer long-term investment options.