From Rs 73k to over Rs 1.2L between January-December 2025 -- is buying gold in 2026 still sensible?
'Customers flocked to purchase gold in large numbers during the event.'
The Kedarnath temple in the Garhwal Himalayas opened for devotees on the occasion of Akshaya Tritiya after remaining closed during the winter.
Akshaya = never decreasing. And Tritiya implies the third phase of the moon. This extremely auspicious day -- also called Akha Teej -- is for fresh starts, abundance and spirituality. In the month of Vaisakha, it marks the beginning of a new cycle, as individuals believe that any venture commenced on this day will lead to success and prosperity.
India's gold demand witnessed a 15 per cent on-year decline to 118.1 tonnes in the January-March quarter of this year, even as value grew by 22 per cent to Rs 94,030 crore due to surging prices, the World Gold Council (WGC) said on Wednesday. According to the WGC forecast, India's gold demand for 2025 is expected to be between 700-800 tonnes.
Gold future prices sustained upward trend for the fourth straight session by surging Rs 2,048 to hit a fresh record high of Rs 100,000 per 10 grams as investors rushed to safe havens after US President Donald Trump indicated plans to overhaul Federal Reserve amid continuing global trade war jitters. On the Multi Commodity Exchange (MCX), the August delivery contract of the yellow metal bounced by Rs 2,048 or 2.1 per cent to hit a fresh peak of Rs 100,000 per 10 grams in the mid-session trade.
According to a statement from the Rudraprayag police, the landslide was triggered by continuous heavy rainfall, which caused large amounts of debris and stones to fall onto the trekking route, blocking and damaging the walkway to Kedarnath Dham.
Overall automobile retail sales in India grew a modest 2.95 per cent in April this year to 22,87,952 units with completion of purchases by customers around Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu helping April end on a positive note, Federation of Automotive Dealers Associations said on Monday.
Akshaya Tritiya is a festival associated with good luck and prosperity.
The auspicious day of Akshaya Tritiya has begun on a strong note as jewellers are witnessing good footfalls and being a public holiday on Tuesday, consumers are flocking to the stores early before the temperature soars. "Jewellers across the country have opened their stores early across the country and there is a strong momentum in footfalls since morning. "There has been positive sentiment in the market since the last 10-15 days and we expect it to continue on the day of Akshaya Tritiya.
Ramakrushna Dasmohapatra, who was the chief priest during the inauguration of the Jagannath Temple at Digha on April 30, on Friday joined the voices demanding withdrawal of the 'Jagannath Dham' phrase attached to the new temple in West Bengal.
The move came against the backdrop of Turkiye backing Pakistan and its condemnation of India's strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir under Operation Sindoor.
'Thankfully, as Indians, we have a long history of trans people in our culture, in our religions, in our mythology.' 'It's not a fad which has suddenly come into existence, the way that a lot of Americans treat it.'
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-Covid sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
The Bihar government has formed a state-level task force to monitor actions taken by authorities to prevent and eradicate child marriages in the state. Bihar has the second-highest rate of child marriage in India, with 40.8% of women getting married before turning 18. The government is implementing a multipronged strategy to combat child marriage, including stricter enforcement of the law, empowering girls through education, and raising awareness.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
People can make purchases for the festivals on Sunday, when the curfew has been relaxed from 8 am to 5 pm, they said.
The Supreme Court of India has expressed concern over the protracted trials in heinous offences related to Maoist activities, stating that indefinite incarceration violates the right to liberty under Article 21 of the Constitution. Two separate benches of the court granted relief to two accused, citing the delayed trials. One bench expedited the trial of a man accused of transporting ammunition for a banned organization, while the other granted bail to a man accused of transporting materials for Naxal activities. The court emphasized the importance of speedy trials and suggested the establishment of special courts to handle Maoist-related cases, aiming to expedite proceedings. The court also criticized the practice of examining an excessive number of witnesses, which can lead to indefinite delays in the conclusion of trials.
Silver also dropped Rs 560 to Rs 36,440 per kg.
There was positive news from across the country especially from the South.
Silver also turned weak and dropped by Rs 350 to Rs 41,200 per kg on reduced offtake by industrial units and coin makers.
Hindus in different parts of India celebrate the auspicious day of Akshaya Tritiya for different reasons. Here are a few beliefs associated with the event.
Gold sales were reported at 40 tonnes last year; this might have been surpassed this year.
Gold prices this year are higher than last year, and the goods and services tax is an additional burden for consumers
Here are some significant facts about Akshaya Tritiya and options available to buy gold.
On gold buying occasions such as Akshaya Tritiya, Chiraj Mehta points out, investors are often confronted with the question: Should I make just a token purchase, or should I buy more towards building my allocation in the yellow metal?
Amazon India has witnessed an 84 per cent year-on-year (Y-o-Y) increase in sales of hallmarked gold jewellery and posted a 5-fold spike in demand during the first two days of its ongoing Amazon Great Indian Festival (AGIF) sale event, which started on September 27. This demand is for brands such as Malabar Gold and Diamonds, PN Gadgil Jewellers, Joyalukkas, PC Chandra and KISNA, among others. According to current trends, customers buy fine jewellery starting at Rs 2,000 in the silver category and shell out up to Rs 40,000 for gold and diamond jewellery. In the last year, Amazon has seen more customers opt for 14 Karat purity.
The Kedarnath temple, one of the 12 Jyotirlings, will open for devotees this Akshaya Tritiya and tentatively shut November 3 or Kartik Purnima November 15 or Bhai Dooj, November 20, depending on the weather.
Traders said a weakening trend in the precious metals overseas after the Federal Reserve pressed on with cuts to stimulus amid signs of a recovery in the US, reducing demand for the safe haven, mainly put pressure on the gold prices in New Delhi.
Look at gold bonds or gold monetisation scheme instead of buying physical gold
Yami Gautam and Uri Director Aditya Dhar announced that they have become parents to a baby boy, who was born on May 10.
Gold is currently ruling at Rs 30,050 per 10 grams.
Gold demand fell by 8 per cent to 45 tonnes on this year's Akshaya Tritiya, an auspicious day in the Hindu calendar for new purchase of long-term assets, due to a rise in prices, compared with 48.9 tonnes in a year-ago period, the World Gold Council said.
Gold prices fell by Rs 180 to Rs 27,520 per 10 grams on Monday, while silver prices also dropped by Rs 300 to Rs 45,500 per kg taking weak global price trend.
The Badrinath temple in the Garhwal Himalayas in Uttarakhand opened for devotees on Sunday, May 12, 2024, after remaining closed during the winter.
Gold has lost some lustre over the past year and this is unlikely to return so soon, resulting in erosion of interest among investors.
Gold on Tuesday advanced further to hit a fresh two-month high of Rs 29,100 per 10 grams, driven by heavy buying by retail customers for the festival of 'Akshaya Tritiya'.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
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