Gold prices in India’s retail market remained largely steady on Sunday, April 19, on the occasion of Akshaya Tritiya. Gold was priced at ₹ 1,54,577 per 10 grams for 24-carat and ₹ 1,41,592 per 10 grams for 22-carat gold. Silver was priced at ₹ 2,57,369 per kilogram.
Despite high prices, demand is expected to remain robust, with total trade projected to cross ₹ 20,000 crore this year, up from last year’s ₹ 16,000 crore, according to the Confederation of All India Traders (CAIT).
Praveen Khandelwal, Secretary General of CAIT, noted that Akshaya Tritiya is traditionally one of India’s most auspicious occasions for purchasing gold. He mentioned that the nature of purchasing is evolving due to steep price increases.
Gold prices have jumped from around ₹ 1 lakh per 10 grams last year to nearly ₹ 1.58 lakh now, while silver has risen from ₹ 85,000 per kg to about ₹ 2.55 lakh per kg.
Consumers are increasingly opting for lighter jewellery and exploring alternatives like silver and diamond products. CAIT National President BC Bhartia stated that there is a clear shift towards lightweight jewellery and a focus on silver and diamond products.
