Akshay Tritiya Gold Purchases in Gujarat Reach 100kg Despite Soaring Prices
On the auspicious occasion of Akshay Tritiya, also known as Akha Trij, gold buyers across Gujarat purchased an estimated 100 kilograms of the precious metal, according to data from bullion and gold traders. This significant volume was achieved despite gold prices hovering at record highs, which influenced consumer behavior toward more modest acquisitions.
High Prices Dampen Jewelry Enthusiasm, Shift Demand to Smaller Units
This year, Akha Trij fell on a Sunday, prompting most jewelry stores in cities like Ahmedabad to remain open throughout the day to cater to shoppers. However, trade sources reported that demand was tempered by cautious spending, as the soaring cost of gold curbed the traditional enthusiasm for jewelry purchases. Consumers largely favored coins, bars, and lightweight ornaments over heavier, more expensive jewelry pieces.
Manoj Soni, a jeweler based in Ahmedabad, highlighted that with gold priced at approximately Rs 1.57 lakh per 10 grams, plus GST, on Sunday, most buyers opted for lightweight jewelry to manage costs. This trend reflects a broader shift in consumer preferences during periods of elevated prices.
Regional Distribution of Gold Sales Across Gujarat
Industry estimates indicate that Ahmedabad was a major contributor to the overall sales, accounting for 30 to 40 kilograms of the gold sold. The remaining volume was distributed across other key cities in Gujarat, including Surat, Rajkot, Vadodara, and various smaller towns. This regional spread underscores the widespread participation in the Akshay Tritiya gold-buying tradition.
Investment-Led Demand Remains Robust Amid Price Surge
Bullion dealers noted that investment-led demand for gold coins and bars remained relatively healthier compared to jewelry purchases. Haresh Acharya, director of the India Bullion and Jewellers Association (IBJA), explained, "Whenever prices stay elevated, consumers move towards smaller units and bullion products. That trend was visible this Akha Trij as well." This observation points to a strategic shift in how consumers approach gold buying during high-price phases.
Retailers also reported weaker advance bookings for gold items, suggesting that spontaneous purchases dominated the day's sales. Additionally, trade sources mentioned that silver sales performed well, indicating a continued interest in precious metals beyond gold.
The combination of high prices and cautious consumer behavior shaped this year's Akshay Tritiya gold sales in Gujarat, highlighting evolving market dynamics in the bullion and jewelry sectors.
