Rs 20,000 crore gold, silver rush: What will people buy this Akshaya Tritiya?

[ad_1]

Rs 20,000 crore gold, silver rush: What will people buy this Akshaya Tritiya?

This Akshaya Tritiya, India’s gold and silver markets are heading for bumper purchases, with overall trade likely to cross Rs 20,000 crore even as record-high prices reshape buying patterns. The estimate, shared by the Confederation of All India Traders (CAIT), is higher than last year’s Rs 16,000 crore, signalling growth in value despite a sharp rise in bullion rates.Prices for the yellow metal have surged sharply over the past year, going from Rs 1,00,000 per 10 grams, to Rs 1.58 lakh. Meanwhile, silver has shown a steeper rally, jumping from Rs 85,000 per kilogram to Rs 2.55 lakh per kilogram. According to CAIT, this sharp escalation has not weakened demand, but is instead prompting consumers to make more deliberate and value-oriented purchases.Praveen Khandelwal, member of parliament from Chandni Chowk and secretary general of CAIT told ANI, “Akshaya Tritiya has traditionally been one of India’s most auspicious occasions for purchasing gold… While gold continues to dominate, the nature of purchasing is evolving significantly in response to steep price escalation.”Commenting on customer preference, CAIT national president BC Bhartia highlighted, “There is a clear shift towards lightweight, wearable jewellery, alongside a stronger focus on silver and diamond products. Attractive incentives such as reduced making charges and complimentary gold coins are also helping sustain consumer interest.”Despite the increase in overall trade value, the quantity of metals being sold tells a different story. Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation (AIJGF), an associate of CAIT, explained that the projected Rs 16,000 crore gold trade amounts to nearly 10,000 kilograms (10 tonnes) at current rates. The value, spread across an estimated 2 to 4 lakh jewellers, translates to average sales of only 25 to 50 grams per jeweller, “clearly indicating a sharp decline in volume”.Meanwhile for silver, the estimated Rs 4,000 crore trade corresponds to around 1,56,800 kilograms (157 tonnes), resulting in average sales of about 400 to 800 grams per jeweller during the festival period. “These figures underline a critical shift: while the value of business is expanding due to rising prices, actual consumption is contracting,” Khandelwal said.This gap between value and volume is also reshaping consumer’s buying pattern, with smaller items and lightweight jewellery gaining popularity. At the same time, jewellers are facing challenges due to fluctuating prices, especially when it comes to managing inventory.Even so, festive demand remains steady, with markets witnessing healthy footfall. “Consumers are now adopting a more cautious and pragmatic approach, balancing traditional beliefs with financial discipline,” Khandelwal added.At the same time, it’s not just about physical gold anymore as consumers are increasingly exploring alternatives like digital gold, Sovereign Gold Bonds and gold ETFs, drawn by the promise of liquidity, safety and flexibility when prices are volatile.CAIT and AIJGF have urged jewellers to comply with mandatory hallmarking standards, including HUID certification, and advised buyers to verify the purity and authenticity of their purchases.

[ad_2]

Source link

19 thoughts on “Rs 20,000 crore gold, silver rush: What will people buy this Akshaya Tritiya?”

  1. Those who enjoy graphic stories can free webtoons and discover new titles. The library offers fantasy, allowing visitors can discover something enjoyable. New chapters make it easy to keep up with favorite series

  2. Собираетесь изучать интересные публикации? обратите внимание на https://overview.com.ua — здесь публикуются тематические материалы для разных интересов.

  3. Оформите профессиональное https://otvetstvennoe-hranenie-msk.ru/ для оптимизации складской логистики. Складское хранение помогает организовать хранение партий разного объема. На логистической площадке размещают коммерческие грузы. В зависимости от условий предусматриваются комплектация заказов. Для поставщика это удобный способ упростить работу с запасами.

  4. Нужны скины? lisskins по выгодным ценам — большой выбор популярных предметов для Counter-Strike 2. Найдите редкие ножи, перчатки, оружие и другие скины для игры. Быстрая покупка, удобный каталог и актуальные цены на скины CS2.

  5. Нужны скины? обмен скинов дота 2 обменивайте скины CS2, Rust, Dota 2 и TF2 быстро и выгодно! Удобный обмен игровыми предметами, широкий выбор скинов, выгодные предложения и безопасные сделки. Покупайте, продавайте и обменивайте скины на одной платформе.

  6. Istrazite nezavisni https://geometar-legalizacija.com sa idejama za unapredenje enterijera, planiranje radova i stvaranje prijatnog zivotnog prostora. Saznajte vise o savremenim gradevinskim materijalima, tehnikama zavrsne obrade, izboru namjestaja i rjesenjima za udobniji dom. Odaberite razlicite stilove uredenja, procitajte prakticne savjete za renoviranje i pronadite inspiraciju za svoj projekat. Korisni clanci mogu vam pomoci da bolje planirate budzet, izbjegnete ceste greske i stvorite funkcionalan, moderan i dugotrajan prostor za zivot.

  7. Discover local weed shop in prague city centre options and learn about store locations, opening hours, and available product categories. Compare local listings, check current Czech regulations, and learn about CBD products and hemp-derived goods. Prepare your visit by checking reliable information, age restrictions, and applicable rules.

  8. Discover popular reliable cannabis shop in prague listings to learn about store locations, opening hours, and product categories. Review available information about CBD products, hemp goods, and local regulations. Organize your visit by checking current opening times, age restrictions, and Czech laws.

  9. Explore local buy cannabis prague legally information to understand Czech laws and available cannabis-related products. Review store details, CBD and hemp product categories, age restrictions, and local regulations before planning a visit. Learn which products are permitted, what rules apply to possession and public use, and how requirements may differ by product type. Reliable information helps visitors make informed decisions, avoid misunderstandings, and stay aware of the legal requirements while visiting Prague.

  10. Looking for useful weed prague telegram store information can help visitors understand online discussions about cannabis culture in the Czech capital. Explore public communities covering local regulations, CBD products, travel tips, and cannabis-related news. Verify published information carefully, watch for misleading claims, and avoid suspicious accounts requesting advance payments.

Leave a Reply

Your email address will not be published. Required fields are marked *