As Indians gear up for gold purchases on Akshaya Tritiya this year, a stark price reality is reshaping buying decisions this year. The same ₹96,000 that fetched 10 gm of gold during the 2025 festival may now buy barely 6 grams, reflecting a steep year-on-year surge in bullion rates. 

Gold, long seen as both an auspicious buy and a financial safety net, has witnessed a sharp rally over the past 12 months — pushing it further out of reach for many middle-class households. 

What changed for buyers 

During Akshaya Tritiya 2025, gold prices hovered just under the ₹1 lakh mark, with 24-carat gold widely available in the ₹96,000-₹97,000 range per 10 gm. Despite the high base, festive demand remained robust, driven by cultural sentiment and expectations of further price gains. 

In 2026, however, prices have surged significantly. Market estimates indicate gold trading in the range of ₹1.45 lakh to ₹1.59 lakh per 10 gm in the run-up to the festival. 

The implication is clear: 

• ₹96,000 in 2025 bought 10 gm 
• ₹96,000 in 2026 buys roughly 6-6.5 gm 

This translates into a 30-40% erosion in purchasing power for retail buyers within just a year. 

What’s driving the rally 

Analysts point to a combination of global and domestic factors behind the sustained uptrend in gold prices. 

Heightened geopolitical tensions and economic uncertainty have strengthened gold’s appeal as a safe-haven asset. At the same time, persistent inflation concerns and currency pressures have added to the upward momentum, particularly in import-dependent markets like India. 

Strong investor interest — both through physical gold and financial instruments — has further tightened supply-demand dynamics, keeping prices elevated even during typically price-sensitive periods like festive buying seasons. 

Festive demand holds, but behaviour shifts 

Despite the surge, jewellers say demand during Akshaya Tritiya is expected to remain resilient, albeit with noticeable shifts in consumer behaviour. 

Buyers are increasingly opting for: 

• Lighter jewellery pieces instead of heavy ornaments 
• Gold coins and bars as investment alternatives 
• Exchange schemes, where old jewellery is traded for new purchases 

Retailers are also adjusting strategies, offering discounts on making charges and promoting advance bookings to sustain volumes. 

Industry insiders note that while footfall may remain steady, ticket sizes are likely to shrink, reflecting cautious spending amid higher prices. 

Akshaya Tritiya has traditionally been associated with wealth and prosperity, with even the smallest gold purchase considered auspicious. This cultural underpinning continues to support demand, even as affordability becomes a concern. 

With global uncertainties showing little sign of easing, analysts expect gold prices to remain firm in the near term. For buyers, this could mean continued pressure on affordability — and a further tilt towards smaller, symbolic purchases during festivals.

Published on: Apr 11, 2026 6:30 AM IST