Indian institute of technology -madras, Research university in New Delhi, India

Mumbai: In Mumbai’s MMR region alone, an estimated ₹800 crores worth of precious metals were traded on Akshaya Tritiya, as jewelers and artisans across the city prepared extensively to meet the anticipated festive demand. The trend mirrored a national boom, with gold sales estimated at ₹12,000 crores and silver trade crossing ₹4,000 crores across India, according to industry bodies.Despite record-high prices—₹97,500 per 10 grams for gold and ₹98,000 per kilogram for silver—consumers turned out in large numbers, reaffirming the cultural and religious significance of the day. A slight price drop of ₹1,000 in gold and ₹2,000 in silver further encouraged purchases.Shankar Thakkar, National Secretary of the Confederation of All India Traders (CAIT) and President of the All India Edible Oil Traders Federation, said, “Akshaya Tritiya is regarded as an extremely auspicious day in Indian tradition. People believe that anything purchased today brings lasting prosperity. As a result, jewelers across India witnessed strong footfall and brisk sales, especially in lightweight gold ornaments.”Praveen Khandelwal, CAIT’s National General Secretary and Member of Parliament from Delhi’s Chandni Chowk, said the ongoing wedding season further contributed to consumer enthusiasm. “Gold continues to be seen as a secure and rewarding investment, which is why demand remained high despite the price surge,” he noted.Pankaj Arora, President of the All India Jewellers and Goldsmiths Federation, emphasized the symbolic value of gold on this occasion. “Even with prices at an all-time high, customer participation was strong—highlighting the religious and cultural weight of Akshaya Tritiya.”According to Nitin Kedia, National General Secretary of AIJGF, gold prices have consistently risen over the past few years—from ₹52,700 per 10 grams in 2022 to ₹74,900 in 2024—yet public enthusiasm remains unaffected during this festival.Rooted in mythology, Akshaya Tritiya is believed to be the day when Lord Shiva blessed Kubera with wealth and Goddess Lakshmi with divine prosperity. Hence, purchases made on this day are seen as ushering in eternal growth and good fortune.

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Mumbai: In Mumbai’s MMR region alone, an estimated ₹800 crores worth of precious metals were traded on Akshaya Tritiya, ... ...