Is Gold Still Shining on Akshaya Tritiya?
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Synopsis
As Akshaya Tritiya approaches, gold prices have soared over 30% since last year, making it a prime investment opportunity. This article explores the trends in gold investment and its significance during this auspicious festival.
Key Takeaways
- Gold prices have increased over 30% since last year's Akshaya Tritiya.
- 24-carat gold is priced at nearly Rs 95,000 per 10 grams this year.
- Akshaya Tritiya is seen as an auspicious day for gold purchases.
- Gold has more than tripled in value over six years.
- South India leads in gold demand during this festival.
New Delhi, April 29 (NationPress) Gold continues to shine brilliantly for investors, boasting a remarkable return of over 30 percent since last year's Akshaya Tritiya, as reported by brokerage firm Ventura.
As the festival nears this Wednesday, the price of 24-carat gold has skyrocketed from Rs 73,240 per 10 grams in 2024 to approximately Rs 94,000-Rs 95,000 per 10 grams this year.
Akshaya Tritiya is recognized as one of the most auspicious occasions for purchasing gold. It is believed that acquisitions made on this day usher in prosperity and good fortune.
With this belief deeply entrenched in tradition, millions across India turn to gold, not only for decoration but also as a reliable investment, particularly in uncertain times.
Over an extended period, gold has demonstrated even more impressive returns. In the last six years, gold prices have increased more than threefold. On Akshaya Tritiya in 2019, 24-carat gold was priced at Rs 31,729 per 10 grams, according to the firm.
The increase in gold prices is mainly attributed to escalating global uncertainties, prompting many investors to view the yellow metal as a safe haven.
On April 22 this year, gold prices achieved a significant milestone, exceeding Rs 1,00,000 per 10 grams for the first time.
Ventura also pointed out regional variations, mentioning that the highest demand for gold during Akshaya Tritiya arises from South India, accounting for nearly 40 percent of total sales.
The western region represents about 25 percent, the eastern region 20 percent, and the northern region around 10 percent.
Interestingly, while Akshaya Tritiya holds great significance in South India, consumers in North India emphasize purchasing gold during the Dhanteras festival.
The brokerage firm also noted that although high gold prices may reduce sales volume this year, the overall revenue for the industry is expected to remain stable compared to last year.
Point of View
I firmly believe in the importance of keeping our audience informed about market dynamics. The recent surge in gold prices reflects broader economic trends and consumer behavior, particularly during significant festivals like Akshaya Tritiya. Our coverage aims to provide clarity and insight into these developments.
NationPress
17/06/2025
Frequently Asked Questions
Why has gold price increased significantly?
The rise in gold prices is mainly due to increasing global uncertainties, leading investors to seek gold as a safe-haven asset.
What is the significance of Akshaya Tritiya for gold purchases?
Akshaya Tritiya is considered one of the most auspicious days to buy gold, as it is believed that purchases on this day bring prosperity and good fortune.
How has gold performed over the past years?
Over the last six years, gold prices have more than tripled, showcasing its value as a long-term investment.
What regions in India have the highest demand for gold?
South India accounts for nearly 40% of gold sales during Akshaya Tritiya, while the western region contributes about 25%.
Will high gold prices affect sales this year?
While high prices may reduce sales volume, the overall revenue for the gold industry is expected to remain stable compared to last year.
