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Mint
01-05-2025
- Business
- Mint
India's Akshaya Tritiya gold buying subdued by near-record prices
New Delhi: Akshaya Tritiya, a spring festival in India, is an auspicious day for new beginnings, investments, and charity, believed to ensure enduring prosperity. Buying gold is a common practice on this day. However, consumers refrained from high-value gold purchases on Wednesday, deterred by steep prices of the precious metal. Still, they opted for token purchases such as gold and silver coins as a form of investment, apart from picking up daily wear ornaments, retailers said. Despite extended store hours, walk-in customers were few, denting volume growth this year. 'Many first-time buyers entered the market, primarily driven by the investment opportunity, with prediction of gold prices rising further. However, demand was muted in the higher-denomination category due to the high price of gold. Consumers adapted their purchasing behaviour: opting for lower denomination or preferring to move to silver, while some waited for prices to stabilise,' Samit Guha, chief financial and technology officer of MMTC-PAMP that sells gold and silver coins and bars. MMTC-PAMP is a joint venture between India's state-run MMTC Ltd, and Swiss-based bullion brand PAMP SA. Guha said silver saw a huge increase in demand, with volumes more than doubling over the previous year. "Regarding jewellery purchases, consumers opted for smaller, lightweight pieces, prioritising daily wear but at a higher value. Furthermore, there has been a notable surge in the purchase of gold ETFs and Digital Gold due to their low making charges and investment appeal. Overall, compared to last Akshaya Tritiya, we witnessed robust growth in silver for offline sales and exponential growth across our digital and e-commerce platforms." he said. After rallying since the start of the year and approaching the ₹ 100,000 per 10 gram-mark late last month, gold prices on India's Multi Commodity Exchange (MCX) have since retreated. Weaker international prices, driven by a stronger US dollar and easing trade tensions caused a drop of over ₹ 500 on Akshaya Tritiya on Wednesday, with prices settling near ₹ 95,000 per 10 grams. Consumers made small token purchases, although overall volumes declined year-on-year. 'Value-wise, there has been a growth of 20% but volume wise there has been a de-growth of 15% to 18% in gold purchases,' said Suvankar Sen, managing director and chief executive of Senco Gold Ltd, which operates 171 stores across the country. However, demand for diamond jewellery grew both in value and volume terms, he said. Overall, demand during Akshaya Tritiya was led by purchase of wedding jewellery and small token pieces. A recent surge in gold prices has prompted retailers to ramp up offerings to lure customers. Consumers, on the other hand, are either resorting to returning old gold or waiting for prices to cool. Gold continues to remain a draw for Indian households, with a large part of gold sales linked to weddings in the country. 'Despite the ongoing market volatility, consumer preferences leaned towards gold, particularly in the lightweight jewellery category, with notable traction in rings, earrings, pendants, and chains. The diamond category also saw good movement, especially within lightweight designs," Ramesh Kalyanaraman, executive director, Kalyan Jewellers. Gold coins continued to be a preferred choice among customers, alongside strong demand for silver—both in coins and artefacts, he said. The retailer operates over 250 stores in India. Rajesh Rokde, chairman, All India Gem and Jewellery Domestic Council, said the recent price fluctuations—peaking at ₹ 99,500 on 22 April, and now down to ₹ 95,000—have reinforced buyers' confidence in gold as a strong investment. 'Today, we observe two types of customers: those purchasing in the ₹ 50,000 to ₹ 5 lakh range, drawn to the festive rush, and high-value buyers investing ₹ 10–15 lakh, who plan and book their selections days in advance to buy during the muhurat. With the drop in gold prices, the number of customers has notably increased, contributing to an impressive total sales figure of Rs20,000 crore today. Furthermore, as the wedding season kicks off during Akshaya Tritiya, demand is expected to rise significantly in the coming days,' he said. Additionally, Rokde emphasized the increasing demand for lightweight jewellery. "There is a noticeable shift towards lightweight designs, particularly among younger buyers," he said. First Published: 1 May 2025, 07:51 PM IST
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Business Standard
30-04-2025
- Business
- Business Standard
Physical or digital, why gold always glitters for Indian investors
Gold was selling for almost Rs 96,000 per 10 grams on Akshaya Tritiya, more than tripling in value since 2015 as Indians continue to invest in the 'safe haven' asset. 'Discerning investors are now opting for smaller quantities but higher values. Lightweight jewellery, certified coins, and digital gold are becoming mainstream,' said Samit Guha, chief financial and technology officer at MMTC-PAMP, A joint venture between Switzerland based bullion brand, PAMP SA, and MMTC Ltd, a Government of India Undertaking that sells gold and silver coins and bars, specializing in high-purity, certified precious metals. Preference for 24K gold of 999.9+ purity and the shift toward investment-grade purchases show that customers have become financially aware, he said. Akshaya Tritiya, being celebrated on Wednesday, is considered auspicious for investments. Digital Gold and Modern Investment Trends Palka Arora Chopra, director at Master Capital Services Ltd., a full-service financial services company that offers stock broking, investment advisory, mutual funds, and other wealth management solutions, said digital gold has emerged as a major investment trend in 2025. 'The way Indians approach gold is evolving. Digital formats offer liquidity, transparency, and ease of access, making them popular — especially among younger investors,' she said. Gold is viewed as a portfolio hedge against inflation and volatility, not just a ceremonial purchase. Cultural Sentiment Meets Financial Strategy Nishant Verma, who works for a public sector undertaking, says gold is a traditional and modern investment. 'Jewellery still holds emotional and cultural value, especially for festivals like Akshaya Tritiya. But from a pure investment lens, digital gold and SGBs are far more practical,' he said. He noted that millennials prefer non-wearable forms of gold that are easier to manage, store, and trade. "Global tensions, inflation concerns, and expected interest rate shifts in the US are contributing to gold's sustained rise in 2025. Central bank purchases and geopolitical risks only reinforce its safe haven status," said Chopra, of Master Capital. 'As long as instability remains, gold's appeal will persist.' Tips for people buying gold For tradition or gifting: Physical gold still holds its charm. For wealth building: Consider SGBs, gold ETFs, or digital gold. For better returns: Go for higher purity and verified products.
Business Standard
28-04-2025
- Business
- Business Standard
MMTC-PAMP Unveils the Laddoo Gopal 50 gm Silver Bar; A Symbol of Devotion and Purity
NewsVoir New Delhi [India], April 28: MMTC-PAMP, India's only London Bullion Market Association (LBMA) accredited Good Delivery gold & silver refiner is proud to announce the launch of the Laddoo Gopal 50 grams 99.99%+ purity Silver Bar. This exquisite silver bar pays tribute to Lord Krishna, showcasing an image of the childlike innocence and divinity through intricate designs and fine Swiss craftsmanship. Laddoo Gopal is the child form of Lord Krishna, known for his playful nature and love for sweets. He is a symbol of love and innocence, and is worshipped across India. People often treat Laddoo Gopal like a member of their family, offering him laddoos and decorating his space with care. This silver bar shows a colourful, 3D image of Laddoo Gopal sitting peacefully, surrounded by designs that reflect his playful and divine nature. The back side of the bar is engraved with a sacred Sanskrit shloka. The verse is a prayer to Lord Krishna, praising him as Vasudeva, Hari, and Govinda, the Supreme being, who removes all troubles and protects us always. Speaking on the launch, Mr Samit Guha, Chief Financial and Technology Officer from MMTC-PAMP said, "MMTC-PAMP is honoured to offer our valued customers a unique symbol of love, devotion, and faith. Crafted with Finest Swiss craftsmanship and 99.99%+ purity, this bar serves as a spiritual keepsake for devotees of Lord Krishna. It is our tribute to India's rich cultural heritage and deep-rooted traditions, and we hope it brings blessings of joy, protection, and prosperity to all who receive it." MMTC-PAMP's Laddoo Gopal Silver bar embodies of celebrating India's rich spiritual heritage through intricate design and craftsmanship. Like all MMTC-PAMP products, the Laddoo Gopal Silver Bar is produced using advanced refining techniques and undergoes rigorous quality checks to meet global purity standards. (Link to the product) Every product created by MMTC-PAMP goes through a rigorous purification process to ensure 999.9+ (99.99%+) the purity of the metal. To validate the authenticity, every MMTC-PAMP product carries a unique number and comes packaged in Assayer Certified Minted Cards. Each gold and silver product bought from MMTC-PAMP offers positive weight tolerance, which guarantees that every coin or bar one buys weighs more than the listed weight, ensuring customers receive the highest value for their investment. MMTC-PAMP products are available at their exclusive stores, leading jeweller partners, online marketplaces such as Amazon and Flipkart, or directly from MMTC-PAMP's official website, A joint venture between Switzerland-based bullion refinery, PAMP SA, and MMTC Ltd., a Miniratna and Government of India Undertaking. MMTC-PAMP is the only LBMA-accredited gold & silver good delivery refiner in India and is accepted across global commodity exchanges and central banks. The company seamlessly marries Swiss excellence with Indian insights. MMTC-PAMP India Pvt. Ltd. is internationally recognized as an industry leader in bringing global standards of excellence to the Indian precious metals industry. MMTC-PAMP has received several awards since its inception from local and global industry bodies for Refining, Brand and Sustainability. Notably, MMTC-PAMP is India's First Precious Metals Company to have Science-based Emissions Reduction Targets Approved by SBTI. Recognized by the Asia and India Book of Records, MMTC-PAMP is acclaimed as the country's only brand providing the purest gold and silver coins and bars with 999.9+ purity levels and positive weight tolerance to consumers. Adding to its laurels, MMTC-PAMP was honoured as India's Most Trusted Brand of the Nation at The Brand Story- Indian Brand and Leadership Conclave & Awards, 2024.
Fashion Value Chain
28-04-2025
- Business
- Fashion Value Chain
MMTC-PAMP Unveils the Laddoo Gopal 50 gm Silver Bar; A Symbol of Devotion and Purity
The bar features a coloured image of the child form of Lord Krishna, seated and adorned with ornaments The reverse side carries a Sanskrit mantra in reverence to Lord Krishna MMTC-PAMP, Indias only London Bullion Market Association (LBMA) accredited Good Delivery gold & silver refiner is proud to announce the launch of the Laddoo Gopal 50 grams 99.99%+ purity Silver Bar. This exquisite silver bar pays tribute to Lord Krishna, showcasing an image of the childlike innocence and divinity through intricate designs and fine Swiss craftsmanship. MMTC-PAMP unveils the Laddoo Gopal 50 gm Silver Bar, a symbol of devotion, purity, and divine craftsmanship Laddoo Gopal is the child form of Lord Krishna, known for his playful nature and love for sweets. He is a symbol of love and innocence, and is worshipped across India. People often treat Laddoo Gopal like a member of their family, offering him laddoos and decorating his space with care. This silver bar shows a colourful, 3D image of Laddoo Gopal sitting peacefully, surrounded by designs that reflect his playful and divine nature. The back side of the bar is engraved with a sacred Sanskrit shloka. The verse is a prayer to Lord Krishna, praising him as Vasudeva, Hari, and Govinda, the Supreme being, who removes all troubles and protects us always. Speaking on the launch, Mr Samit Guha, Chief Financial and Technology Officer from MMTC-PAMP said, 'MMTC-PAMP is honoured to offer our valued customers a unique symbol of love, devotion, and faith. Crafted with Finest Swiss craftsmanship and 99.99%+ purity, this bar serves as a spiritual keepsake for devotees of Lord Krishna. It is our tribute to India's rich cultural heritage and deep-rooted traditions, and we hope it brings blessings of joy, protection, and prosperity to all who receive it.' MMTC-PAMP's Laddoo Gopal Silver bar embodies of celebrating India's rich spiritual heritage through intricate design and craftsmanship. Like all MMTC-PAMP products, the Laddoo Gopal Silver Bar is produced using advanced refining techniques and undergoes rigorous quality checks to meet global purity standards. (Link to the product) Every product created by MMTC-PAMP goes through a rigorous purification process to ensure 999.9+ (99.99%+) the purity of the metal. To validate the authenticity, every MMTC-PAMP product carries a unique number and comes packaged in Assayer Certified Minted Cards. Each gold and silver product bought from MMTC-PAMP offers positive weight tolerance, which guarantees that every coin or bar one buys weighs more than the listed weight, ensuring customers receive the highest value for their investment. MMTC-PAMP products are available at their exclusive stores, leading jeweller partners, online marketplaces such as Amazon and Flipkart, or directly from MMTC-PAMP's official website, About MMTC-PAMP A joint venture between Switzerland-based bullion refinery, PAMP SA, and MMTC Ltd., a Miniratna and Government of India Undertaking. MMTC-PAMP is the only LBMA-accredited gold & silver good delivery refiner in India and is accepted across global commodity exchanges and central banks. The company seamlessly marries Swiss excellence with Indian insights. MMTC-PAMP India Pvt. Ltd. is internationally recognized as an industry leader in bringing global standards of excellence to the Indian precious metals industry. MMTC-PAMP has received several awards since its inception from local and global industry bodies for Refining, Brand and Sustainability. Notably, MMTC-PAMP is Indias First Precious Metals Company to have Science-based Emissions Reduction Targets Approved by SBTI. Recognized by the Asia and India Book of Records, MMTC-PAMP is acclaimed as the country's only brand providing the purest gold and silver coins and bars with 999.9+ purity levels and positive weight tolerance to consumers. Adding to its laurels, MMTC-PAMP was honoured as India's Most Trusted Brand of the Nation at The Brand Story- Indian Brand and Leadership Conclave & Awards, 2024.
Business Mayor
26-04-2025
- Business
- Business Mayor
Laddoo Gopal Lord Krishna silver bar launched by MMTC-PAMP ahead of Akshaya Tritiya; Know price, features and other details
Details of this silver bar According to the press release, this silver bar shows a colourful, 3D image of Laddoo Gopal sitting peacefully, surrounded by designs that reflect his playful and divine nature. Laddoo Gopal is the child form of Lord Krishna, known for his playful nature and love for sweets. He is a symbol of love and innocence, and is worshipped across India. People often treat Laddoo Gopal like a member of their family, offering him laddoos and decorating his space with care. The back side of the bar is engraved with a sacred Sanskrit shloka, 'ॐ कृष्णाय वासुदेवाय हरये परमात्मने। प्रणतः क्लेशनाशाय गोविंदाय नमो नमः॥. This verse is a prayer to Lord Krishna, praising him as Vasudeva, Hari, and Govinda, the Supreme being, who removes all troubles and protects us always. This Laddoo Gopal Silver bar embodies celebrating India's rich spiritual heritage through intricate design and craftsmanship. MMTC-PAMP claims that the Laddoo Gopal Silver Bar is produced using advanced refining techniques and has undergone rigorous quality checks to meet global purity standards. Samit Guha, Chief Financial and Technology Officer, MMTC-PAMP said, 'This is an unique symbol of love, devotion, and faith. Crafted with Finest Swiss craftsmanship and 99.99%+ purity, this bar serves as a spiritual keepsake for devotees of Lord Krishna. It is our tribute to India's rich cultural heritage and deep-rooted traditions, and we hope it brings blessings of joy, protection, and prosperity to all who receive it.' How to verify the authenticity of the silver bar? According to the press release by MMTC-PAMP, to validate the authenticity of this silver bar, you need to note down its unique number and keep the assayer certified minted card for reference. 'Each gold and silver product bought from MMTC-PAMP offers positive weight tolerance, which guarantees that every coin or bar one buys weighs more than the listed weight, ensuring customers receive the highest value for their investment,' said MMTC-PAMP in the release. You can buy this silver bar from online shopping websites like Flipkart, Amazon and also from MMTC-PAMP website. However, do note when buying from MMTC-PAMP website there is no cash on delivery (COD) option.
