New Delhi, April 19 (NationPress) The auspicious occasion of Akshaya Tritiya is projected to generate business surpassing Rs 20,000 crore in gold and silver, despite the surge in prices. This marks a significant increase from last year's estimated Rs 16,000 crore, as reported by the Confederation of All India Traders (CAIT) on Sunday.

Traditionally, Akshaya Tritiya is celebrated in India as a highly auspicious day for purchasing gold, based on the belief that investments made on this day bring enduring prosperity.

“Although gold remains the preferred choice, the purchasing behavior is undergoing a notable transformation due to the steep rise in prices,” stated Praveen Khandelwal, the Secretary General of CAIT and a Member of Parliament.

This year, gold prices have escalated from approximately Rs 1,00,000 per 10 grams last year to nearly Rs 1.58 lakh, while silver has surged from Rs 85,000 per kg to an astonishing Rs 2.55 lakh per kg.

According to CAIT, this substantial increase has prompted a shift in consumer behavior. Rather than dampening demand, higher prices are reshaping buying habits, leading consumers to make more informed and value-oriented purchases.

B.C. Bhartia, President of CAIT, noted that jewellers nationwide are adapting proactively by redesigning their product offerings and marketing strategies.

“There is a clear transition toward lightweight, wearable jewelry, with a heightened focus on silver and diamond items. Attractive promotions, such as lower making charges and complimentary gold coins, are also helping to maintain consumer interest,” he remarked.

While the overall trade value is anticipated to rise, the actual quantity of precious metals sold presents a contrasting scenario.

As per data released by Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation (AIJGF), the projected Rs 16,000 crore gold trade translates to about 10,000 kilograms (10 tonnes) of gold at current market rates.

With an estimated 2 to 4 lakh jewellers spread across the country, this results in an average sale of merely 25 to 50 grams of gold per jeweller, indicating a significant decline in volume.

In a similar vein, the anticipated Rs 4,000 crore silver trade is expected to equate to around 1,56,800 kilograms (approximately 157 tonnes) of silver, indicating an average sale of just 400 to 800 grams per jeweller during the festival.

“These statistics highlight a crucial shift — while business value is increasing due to rising prices, actual consumption is on the decline. This trend explains the growing popularity of lightweight jewelry and smaller denomination coins this year,” Khandelwal explained.

Moreover, there is a noticeable inclination toward alternative investment options such as digital gold, Sovereign Gold Bonds, and Exchange Traded Funds (ETFs), which provide better liquidity, safety, and flexibility amid fluctuating prices.