High gold prices deter pre-bookings ahead of Akshaya Tritiya in Ahmedabad
Updated: Apr 24th, 2025
With Akshaya Tritiya (also known as Akti or Akha Teej, an annual Jain and Hindu spring festival) around the corner (April 30), the traditional flurry of bookings in the gold market has reached a standstill amid the skyrocketing prices.
On this auspicious occasion, purchasing gold is regarded as a sacred ritual. However, this year, record-high gold prices have led to a noticeable slowdown in consumer interest, with both buyers and traders adopting a cautious 'wait and watch' approach.
Unlike previous years, when customers would rush to book gold in advance to receive delivery on Akshaya Tritiya for the auspicious muhurat, this year has seen little to no pre-booking inquiries. The usual buzz is conspicuously absent, and market players are concerned about how business will fare on the day.
Typically, gold and silver markets across the country, including in Ahmedabad, witness a surge in activity during Akshaya Tritiya.
With gold prices touching the ₹1,01,000 mark per 10 grams and silver peaking at ₹1,00,000 before settling at ₹96,000 per kg, consumers are choosing to defer their purchases. The price shock has led to sluggish market activity.
In a bid to keep their business going, some jewellers are offering selective discounts to known customers.
According to industry insiders, the market has witnessed major fluctuations in gold prices within the last month alone, contributing to the uncertainty. Both customers and traders are now waiting for international gold prices to stabilise before making any significant moves.
The sharp price rise has left traders anxious about footfall and actual sales on this occasion. With gold at an all-time high, the question remains: Will the traditional buying fervour return, or will this Akshaya Tritiya pass with subdued enthusiasm?
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