As India gears up for Akshaya Tritiya on April 30, 2025, an auspicious festival traditionally associated with purchasing gold, the bullion market is witnessing a historic moment. Gold prices have surged to unprecedented levels, breaching the ₹1 lakh per 10 grams mark for the first time in Indian history earlier this month. Yet, a sudden sharp correction just ahead of the festival has created a dynamic, almost frenzied market atmosphere.
Gold Rally and Recent Correction
Gold prices have climbed approximately 30% over the past year, driven by global economic uncertainties, geopolitical tensions, and monetary policy shifts. From ₹73,240 per 10 grams last Akshaya Tritiya (2024), gold briefly touched ₹1 lakh before stabilising between ₹94,000 and ₹95,000.
However, in a surprising turn just days before Akshaya Tritiya 2025, gold prices dropped sharply across 24K, 22K, and 18K segments. Analysts attribute the correction to easing U.S.-China trade tensions and a strengthening U.S. dollar, which dampened global demand for the safe-haven asset.
Retailers Roll Out Aggressive Offers
Despite high bullion prices, leading jewellers such as Tanishq, Senco Gold, PC Chandra, and MP Jewellers have launched aggressive promotional campaigns to lure customers:
- Tanishq is offering up to 20% off on making charges.
- Senco Gold has slashed gold prices by ₹350 per 10 grams and eliminated making charges on diamond jewellery.
- PC Chandra is offering ₹200 off per gram of gold along with discounts on making charges.
- MP Jewellers is providing a ₹300 per gram discount on gold jewellery purchases.
Jewellers are banking on strong investor sentiment towards gold as a wealth-preserving asset during turbulent times.
Future Outlook: ₹1.10 Lakh on the Horizon?
Analysts maintain a largely bullish outlook on gold prices for the next year. Projections suggest that prices could touch between ₹1,04,000 and ₹1,10,000 per 10 grams by Akshaya Tritiya 2026. Factors supporting this trajectory include:
- Potential global economic slowdown.
- Escalation of geopolitical tensions.
- Prospective U.S. Federal Reserve rate cuts.
However, cautionary notes persist. If global growth strengthens or central banks slow their gold purchases, prices could correct toward ₹87,000–₹90,000.
Kaynat Chainwala from Kotak Securities advises a “buy-on-dips” strategy for long-term investors, suggesting that any meaningful corrections, such as a drop towards ₹85,000, could be a good entry point.
Is Silver the Dark Horse?
With the record high price of gold, diversifying into silver has been recommended by some experts as silver is comparatively undervalued against gold. With the increasing demand for silver in industry, particularly with the growth of green energy technologies and electronic uses, it offers investors an alternative precious metal entry at a lower cost.
Should You Buy Now?
The present Akshaya Tritiya offers a challenging situation for investors. For investors considering long-term wealth protection, gold continues to have a haven appeal. Nevertheless, experts recommend strongly avoiding purchases at these high levels and opting for staggered purchases or building up on declines.
As always, experts emphasize that investment decisions should align with personal risk appetite, investment horizon, and financial goals.
Also Read: Gold Prices Soar 25% in 2025: What’s Driving the Rally?
