Akshaya Tritiya 2025: Gold price jumps ₹68,500 in 10 years. Is it the right time to buy gold?
Akshaya Tritiya 2025: Gold purchases have traditionally been an integral part of Akshaya Tritiya celebrations for millions of Indians, symbolising prosperity and good fortune.
In the last 10 years, gold prices have surged by over ₹ 68,500 per 10 grams, if one were to compare the levels from Akshaya Tritiya in 2015 to those in 2025, according to a study by HDFC Securities.
If one had bought gold on Akshaya Tritiya in 2019 also, when prices were at ₹ 31,729 per 10 grams, they would have amassed a massive gain of 200 per cent on their investment. Meanwhile, the precious metal has seen a sharp rally of over 30 per cent since last Akshaya Tritiya, when it was trading at ₹ 73,240 per 10 grams, as per Ventura Securities.
Gold prices have experienced a strong upward trend since mid-2024, driven by growing policy uncertainty and concerns about the economic outlook in major global economies, prompting increased investor demand.
Experts say that despite sky-high gold prices, which are hovering around ₹ 1 lakh for 10 grams, consumer sentiment ahead of Akshaya Tritiya 2025 remains strong.
Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL), says that high prices have changed consumer behaviour, with buyers opting for lighter-weight jewellery and coins, rather than heavy jewellery.
'Retailers report solid footfall, particularly in southern India, where the festival is culturally important. That said, high prices have changed consumer behaviour, with buyers opting for lighter-weight jewellery and coins, rather than heavy jewellery,' said Kothari.
Jewellers, on the other hand, are making lucrative offers like lighter jewellery (gold items made with 1 – 1 ½ sovereigns instead of 2 sovereigns) and exchange of old jewellery for full value.
'Jewellers are responding to high pricing by announcing new collections, discounts on making charges and promoting silver jewellery. While volumes of gold may decline, the overall value of gold sales is likely to remain constant or increase, with high pricing and careful promotional activity accounting for the additional value,' he said.
Deveya Gaglani, Senior Research Analyst- Commodities, Axis Securities, recommends investors to purchase gold in a staggered manner on the festive day.
'As gold prices have surged and are approaching overbought levels, we recommend that investors consider buying gold in a staggered manner if prices correct by 5-10%. Currently, the risk-reward ratio is unfavourable at these record levels. In a bullish scenario, if prices hold above 100,000, they could reach 110,000 by the next Akshaya Tritiya. Conversely, we expect prices to consolidate around the 87,000 level on the downside,' Gaglani said.
Meanwhile, brokerage firm Motilal Oswal recommends investors to continue to follow 'buy on dips' strategy. Herein, investors can start accumulating near mentioned support zone for the long term targets of ₹ 1,06,000.
Technically, from a medium to long-term perspective, MOFSL sees support near ₹ 90,000-91,000 and resistance near ₹ 99,000.
Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd said, 'Demand and supply factors historically have not directly made an impact on gold prices, and especially in a scenario where there are more overpowering uncertainties present in the market. Gold prices have posted a sharp rally over the last couple of months, hence some cool off in prices cannot not be ruled out. There are both positives and negatives for Gold prices at this juncture, mixed economic data points, tariff war, higher inflation expectations, rise in slower growth concerns, rate cut expectations, geo-political tensions, concerns regarding rising debt, increase in demand and fall in US Yields could act as tailwinds for prices. Any updates regarding ease off in above uncertainties could put further pressure on bullion.'
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