Akshaya Tritiya gold offers: Rate lock-in deals, free coins, big discounts, and protection plans explained

Mint

29-04-2025

Akshaya Tritiya gold offers: Jewellers are trying to lure price-sensitive Indian gold buyers with several offers ahead of the auspicious Akshaya Tritiya festival, including a free 0.5-gram gold coin on purchases worth ₹ 30,000, ₹ 101 off per gram on gold jewellery, a flat ₹ 3,500 discount on 10-gram gold purchases, and making charges as low as ₹ 1.
Gold prices hovered from ₹ 84,490 per 10 grams on April 19 to ₹ 1,02,007 per 10 grams on April 22, 2025, before dropping to ₹ 95,111 per 10 grams on April 28, 2025. Rate fluctuations have led many buyers to fall for the 'Pay just 10 per cent, lock your gold rate for Akshaya Tritiya' offer.
South India-based C. Krishniah Chetty Group of Jewellers is also offering a package where entire wedding arrangements can be made along with jewellery purchases within ₹ 15 lakh, including jewellery of ₹ 7 lakh minimum, venue, food, décor, music, photographer, with 90 vegetarian items for 250 guests.
After customers were shocked to see yellow metal prices touch ₹ 1.08 lakh for 24K gold on Tuesday, April 22, 2025, the most preferred offering being dished out is the rate protection plan, where a jewellery buyer can pay 10-20 per cent of the jewellery amount and lock the gold rate for that day. If you locked in at Tuesday's rate and the rate on Akshaya Tritiya is lower at ₹ 95,111, you can pay the lower rate.
'We'll ensure you're protected and won't be charged the higher rate. This plan provides peace of mind, allowing you to make informed decisions without worrying about market volatility,' says Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council and Director of Rokde Jewellers.
While the rate of gold jewellery wouldn't alter much in seven days and is likely to reduce after the tariff wars settle, these offers ensure customer stickiness for jewellers.
However, one should be mindful while locking into a gold savings plan for 11–12 months using the locked-in gold rate. 'It is best to opt for the facility where the gold accumulation plan offers the average rupee value for gold applicable through the 11-month period, instead of locking into a gold rate for the entire duration,' says Rajiv Popley, Director of Popley Group of Jewellers.
Free gold coins of 400–800 mg are being offered on gold and diamond jewellery purchases, but one must note that these come only with a purchase of ₹ 1–2 lakh minimum. One should measure the gold rate against the value-add rate of gold (making charges).
There is a discount in gold prices of up to 20–30 dollars between global and Indian prices; hence, these offers are viable for Indian jewellers.
'As demand wanes, retailers are pushing sales through promotions and discounts… the resultant increase in costs will be more than covered by jewellery getting sold at prices higher than the purchase and making prices,' according to Crisil Ratings.
Because of affordability issues, gold buyers are also selling old gold in bar or jewellery form to ensure they stick to their budgets. Hence, jewellers in Mumbai and Delhi have been offering 0 per cent deduction on old gold exchange or 100 per cent exchange value on old gold. But note that usually, such offers are provided for diamond jewellery only.
With hallmarked old gold now entering the market, there is hardly any wastage involved.
Rajiv Popley, Director of Popley Group of Jewellers, says, 'During purchases, 20 per cent of the gold is trade-in (old jewellery/ gold). Consumers get the design of their choice and they optimise the gold available. While 22K gold is the base, they go for a combination of karatage — 22K-18K — as sometimes they like the design and not just because of budgeting.'
However, those looking at affordability opt for lower quantity and even lower gold percentage.
'To make jewellery purchases affordable, one can opt for lightweight jewellery or opt for lower karat. So, instead of 22K you can go for 18K–14K jewellery,' suggests Surendra B Mehta, National Secretary at India Bullion and Jewellers Association.
But buyers are hardly budging on their budgets over the past four years, and budgets shrink with escalating prices. Himank Sharma, Director, Crisil Ratings, says, 'As ticket sizes for buyers are likely to remain constant, caratage and grammage may reduce, as seen in the last four fiscals.'
A unique twist this year is the varying discount on making charges for different types of jewellery. While discounts are 25 per cent off on making charges of gold jewellery and 10 per cent off on 22K gold and antique jewellery, there is a hefty 75 per cent off on diamond jewellery making charges. However, trendy uncut jewellery qualifies only for 10–15 per cent making charges discount.
Why are the discount rates different across jewellery categories? The making charges vary due to the craftsmanship and complexity involved, say jewellers.
'Just like the fees of a doctor vary based on expertise and skill set, labour costs differ based on the design, quality, and time required. Machine-made jewellery is cheaper than handmade jewellery, but select designs aren't possible with machines and require precision,' says Mehta.
'Gold jewellery requires traditional craftsmanship and intricate designs; diamond jewellery demands precise setting and polishing techniques. Cut diamonds involve advanced cutting and polishing processes. Each category's distinct requirements influence the charge-making process. Our discounts reflect these differences, ensuring you receive fair value for your chosen piece,' says Rokade.
Rose gold jewellery also comes at a higher manufacturing cost. However, one must compare the value addition cost with respect to the gold rate offered, as these also differ across jewellers. You can check the day's gold rate on the IBJA website.
Diamonds are regaining favour among urban audiences, who are comparing prices on a per-usage basis.
'As gold prices rise, people are comparing diamond prices and opting for solitaires, as the urban audience wants to flaunt. They compare the prices of 3–4 tolas (1 tola = 11.66 gm) of gold to a carat of solitaires, as diamond prices are currently low,' says Popley.
So, if that is your aim, then go for discounts in diamond jewellery making charges. But varying rates would depend on the piece you select
Even though hallmarking has been mandatory for the past three years, note that Kundan, Polki jewellery, and also those sold by jewellers in exempted districts and below a threshold turnover of ₹ 40 lakh are not mandated to sell hallmarked jewellery only.
'Consumers should always make purchases with a valid invoice, which guarantees after-sales service and determines the actual break-up of price for gold and labour costs,' suggests Mehta.
First Published: 29 Apr 2025, 01:06 PM IST