Bullion Update

This year’s Akshaya Tritiya is set to witness an unprecedented surge in wedding-related businesses in Delhi, with an estimated turnover of over Rs 1,000 crore in a single day. The auspicious day, which aligns with a peak period in the wedding season, is benefiting a wide array of industries including hospitality, jewelry, event management, and more. As demand soars, banquet halls and hotels are seeing a rise in rates, while the gold trade alone is expected to hit Rs 200 crore. This massive economic activity underscores the capital’s vibrant wedding economy, despite rising costs.

Gold and silver prices have witnessed a significant rise in India as the auspicious festival of Akshaya Tritiya approaches, with both metals seeing notable gains driven by increased buying activity from jewellers and stockists. Gold prices rose by Rs 1,050 to Rs 99,450 per 10 grams in the national capital, while silver prices surged by Rs 3,500 to reach Rs 1,02,000 per kg. Despite the elevated prices, experts predict sustained demand, particularly for lightweight items.

As gold prices soar, jewellery retailers are offering attractive discounts on making charges and gold value to entice customers ahead of the auspicious Akshaya Tritiya festival. Leading brands like Tanishq, Senco Gold, MP Jewellers, and PC Chandra Jewellers are offering a range of discounts to take advantage of the buying season. Despite the rise in gold prices, which have surged over 30% in the last year, strong consumer confidence and the appeal of gold as a safe investment are expected to drive robust sales during the festival.

Gold and silver prices saw a significant decline on Monday, with gold falling by Rs 1,000 to Rs 98,400 per 10 grams and silver plummeting by Rs 1,400 to Rs 98,500 per kg. These declines were largely influenced by a shift in investor sentiment following easing trade tensions between the US and China, a stronger dollar, and the US Federal Reserve's stance on interest rates. While gold remains a safe-haven asset amidst geopolitical risks, the current economic landscape has reduced its appeal. The global bullion market continues to reflect these changes as the economic outlook evolves.

Gold prices experienced a notable decline on Monday, with futures contracts falling by Rs 391 to Rs 94,601 per 10 grams, as a result of subdued demand in the domestic market. The decline in gold prices was mirrored in global markets, where futures for the precious metal dropped nearly 1% to USD 3,286.89 per ounce. Analysts suggest that weak global cues and the muted demand in the spot market have contributed to this downward movement in prices.

As India prepares for the auspicious occasion of Akshaya Tritiya on April 30, 2025, gold prices have surged to an all-time high, with 10 grams of gold trading at Rs. 1 lakh. Despite the elevated prices, jewellers remain optimistic, anticipating strong consumer demand, particularly for light-weight jewellery. Industry leaders believe that while some hesitation due to price may occur, the cultural significance of the day, combined with gold’s enduring status as a safe-haven investment, will drive sales.

Gold prices in India have surged to an all-time high, momentarily breaching the Rs. 1 lakh mark per 10 grams, sparking both economic unease and emotional distress across a broad swathe of Indian society. Traditionally viewed as both a cultural staple and a financial safe haven, gold’s sharp rise—triggered by global macroeconomic dynamics—has disrupted seasonal buying patterns during Akshaya Tritiya and the ongoing wedding season. With prices up nearly 29% since December 2024, small jewellers face declining footfall while middle-class consumers are adjusting their expectations.

Gold prices have surged past Rs 1 lakh per 10 grams, leading to concerns over potential short-term demand disruptions. However, experts remain optimistic about the market outlook, driven by significant events like Akshaya Tritiya and the ongoing wedding season. While the sudden rise in prices may dampen immediate consumer demand, experts predict the market will stabilize as consumers adjust. The demand for gold has remained strong despite price fluctuations, as reflected in recent import data.

Gold prices saw a significant rise on Thursday, climbing by Rs 888 to reach Rs 95,610 per 10 grams in futures trade. This increase was driven by fresh positions taken by speculators amid firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery experienced a boost of 0.94%. The uptick was also mirrored in global markets, with gold futures increasing by 0.92% to USD 3,318.47 per ounce in New York. Analysts attribute the rise to both local demand and global market trends, pointing to a growing interest in the precious metal.

Gold prices witnessed a sharp pullback on Wednesday, snapping a four-session winning streak that had pushed the precious metal to record highs on the Multi Commodity Exchange (MCX). June gold futures fell by Rs. 1,975, or 2.03%, closing at Rs. 95,365 per 10 grams, amid investor profit booking and a moderation in global geopolitical tensions. Analysts attributed the decline to a softened tone from former U.S. President Donald Trump regarding the Federal Reserve and China, which dampened the demand for safe-haven assets.