The average price of gold around Akshaya Tritiya in 2021 was Rs 47,676 per 10 gm. With Akshaya Tritiya around the corner, gold prices at the Multi Commodity Exchange are trading around Rs 95,230, which is 99.7 per cent up from 2021 levels
Chennai: Investors who purchased gold four years back during Akshaya Tritiya time have already seen their asset value doubling. Gold prices also have gone up 30 per cent from the last Akshaya Tritiya levels.
The average price of gold around Akshaya Tritiya in 2021 was Rs 47,676 per 10 gm. With Akshaya Tritiya around the corner, gold prices at the Multi Commodity Exchange are trading around Rs 95,230, which is 99.7 per cent up from 2021 levels.
Gold prices have made the highest gain since the last Akshaya Tritiya when prices stood at Rs 72,727 per 10 gm, gaining 30 per cent or Rs 22,503 per 10 gm. The yellow metal also saw prices gain 21.53 per cent during Akshaya Tritiya of 2024 over the previous.
“Gold has consistently delivered strong returns during Akshaya Tritiya, reinforcing its status as a trusted investment in India. Over the past 14 years, gold has shown positive performance in all but three instances, with only single-digit negative returns. Since 2018, the market has seen eight consecutive years of gains, and in the last three years, gold has posted double-digit returns. This trend highlights why Indians traditionally buy gold on Akshaya Tritiya—it has proven to be a reliable store of value,” said Ajay Kedia, MD, Kedia Commodities.
Silver has gained 33.6 per cent in the past four years. However, it saw 125 per cent gain in the past five years. Silver prices at the MCX stood at Rs 42051 in 2020 and appreciated 69 per cent in a year – the highest yearly gain in the past five years. However, the y-t-d gain in silver has been around 12 per cent.
Despite record high prices, gold imports rebounded sharply in March after two consecutive months of decline. According to data from the Ministry of Commerce, imports climbed to $4.4 billion – nearly double the previous month's figure and significantly higher than the $1.53 billion recorded a year earlier, while still below the average monthly imports of $7.3 billion set between August and December 2024.
According to WGC, large jewellery retailers are upbeat about the outlook for the April-June quarter. Early indicators of advance bookings for regional festivals such as Akshaya Tritiya point to strong consumer sentiment.
