Akshaya Tritiya Gold and Silver Buying Trends: Discounts and strong investment demand

As Akshaya Tritiya approaches, jewellery retailers are offering tempting discounts on both gold and silver to attract buyers, even amid rising gold prices. The festive occasion, known for its auspicious significance in purchasing precious items, is expected to drive strong sales.

Major jewellery brands, including Tanishq, Senco Gold, MP Jewellers, and PC Chandra Jewellers, have rolled out attractive offers to make the most of the buying season. Tanishq is offering up to a 20% discount on making charges for gold, while Senco Gold has slashed gold rates by Rs 350 per gram and is offering up to 30% off on making charges. For diamond jewellery, Senco Gold has introduced a 100% discount on making charges and up to 15% off on the value.

MP Jewellers is offering Rs 300 per gram off on gold jewellery, along with a 10% reduction in making charges, while PC Chandra Jewellers is offering Rs 200 off per gram on gold rates, 15% off on making charges, and a 10% discount on diamond purchases.

Annargha Uuttiya Chowdhury, Director of Anjali Jewellers, expressed optimism, stating, "We are expecting a strong Akshaya Tritiya, as consumer confidence in gold is at an all-time high." Chowdhury also noted that gold is seen as a safe haven asset, with many banks globally purchasing gold to hedge against anticipated inflation, further boosting consumer trust in the yellow metal.

Gold prices have surged, with 22-carat gold currently priced around Rs 9,000 per gram in Kolkata, a more than 30% increase from last year. Experts predict that gold prices could rise another 5-7% in the short term, as market volatility is expected to continue throughout 2025.

Despite the high prices, the auspicious sentiment surrounding Akshaya Tritiya, coupled with strong investment demand, is expected to maintain consumer enthusiasm. Senco Gold’s MD & CEO, Suvankar Sen, highlighted that while sales volumes have dipped due to the soaring prices, the positive buying sentiment for the season remains strong. The company is exploring ways to maintain affordability by incorporating pearls and stones into marriage ornaments, reducing the reliance on gold.

The investment appeal of gold is further underscored by recent data. Inflows into gold exchange-traded funds (ETFs) surged by 98.54% year-on-year in February 2025, totaling Rs 1,979.84 crore, compared to Rs 997.21 crore in the same period last year. The assets under management (AUM) for gold ETFs have nearly doubled, reaching Rs 55,677.24 crore.

Silver is also seeing increased investor interest. As of January 2025, the AUM of silver ETFs in India surpassed Rs 13,500 crore, a significant rise since SEBI allowed the launch of silver ETFs in November 2021.

With global trends, strong investment demand, and the festive spirit, jewellers are optimistic that this Akshaya Tritiya season, coupled with the wedding season, will see robust sales for both gold and silver.