Gold demand Akshaya Tritiya stayed muted on April 19, 2026 as record prices curbed jewellery purchases, offsetting a modest uptick in investment demand, according to a report by news agency Reuters. Purchasing precious metals is considered auspicious during the second-biggest gold-buying festival after Dhanteras. It is also considered an auspicious day to start a new business, for weddings, and other important life events.
"The sharp rally in prices curbed jewellery demand. In volume terms, buying was lower as consumers held back, though in value terms spending was higher due to elevated prices," said Amit Modak, chief executive of PN Gadgil and Sons, a Pune-based jeweller told Reuters on the modest volumes recorded this year. Gold prices had hit a record high of $5,594.82 per ounce on January 29 and are now trading at around $4,861.
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Gold futures in India, the world's second-biggest gold consumer, closed at Rs 154,609 per 10 grams on Friday, nearly 63% higher than at the last Akshaya Tritiya festival. Except in a few southern Indian states, demand was lower than normal across the rest of the country, said Surendra Mehta, national secretary at the India Bullion and Jewellers Association.
Akshaya Tritiya, also known as Akti or Akha Teej, is considered one of the most auspicious days in the Hindu and Jain calendars. In 2026, it will be observed on Monday, April 20, however dates vary as per states. The term "Akshaya" means "never diminishing" or "eternal," while "Tritiya" refers to the third lunar day of the bright fortnight in the month of Vaisakha.
Retail buyers have been shifting toward gold coins, which are easier to liquidate, even as jewellers offered discounts on fees for crafting jewellery to attract buyers, said a Mumbai-based jeweller. India's jewellery demand in 2025 fell 24% from a year earlier, while investment demand rose 17% to its highest since 2013, according to data compiled by the World Gold Council.
Gold-buying patterns in India are changing, with purchases no longer concentrated only during festivals as price-sensitive buyers make purchases throughout the year whenever prices dip, a Mumbai-based bullion dealer with a private bank told Reuters. Retail investors are tapping into alternative methods to purchase the precious metal, ranging from digital gold, soveriegn gold bonds to gold ETFs.
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