New Delhi, Apr 18 (BNP): Gold demand in India is expected to remain resilient ahead of Akshaya Tritiya, supported by cultural traditions, shifting consumer preferences, and continued interest in precious metals as a safe-haven asset amid global uncertainty.
The outlook comes as gold prices have risen significantly over the past year, with industry estimates indicating an increase of around 14–16% year-to-date and a much sharper rise compared to the same festive period last year. Despite higher prices, demand has not weakened, but has instead adjusted in form and buying patterns.
Market participants note that Akshaya Tritiya continues to be one of the most important gold-buying occasions in India, symbolising prosperity and long-term value creation. While volatility in global markets has influenced short-term sentiment, periods of price stability and mild corrections are encouraging steady retail participation.
Industry voices highlight a clear shift in consumer behaviour. Traditional jewellery demand remains strong, but buyers are increasingly opting for lightweight jewellery, coins, and bars, where value is closely tied to purity and metal content. Investment demand is also expanding, with growing interest in digital gold and gold exchange-traded funds (ETFs), reflecting a more structured approach to wealth creation.
Silver is also gaining attention, supported not only by investment demand but also by industrial usage in sectors such as renewable energy and electronics, adding a new layer of long-term demand strength.
Platforms are also leveraging festive sentiment to engage consumers. Financial services companies such as BharatPe have introduced campaign-based initiatives like the ‘Akshaya Tritiya Gold Mahotsav’, offering rewards and incentives on digital gold purchases, reflecting the increasing digitisation of gold investment.
Experts expect near-term price fluctuations to continue, influenced by global macroeconomic conditions, currency movements, and geopolitical developments. However, the broader outlook for precious metals remains supported by sustained central bank buying, portfolio diversification trends, and gold’s continued role as a hedge against uncertainty.
Overall, the market outlook suggests that while buying patterns are evolving, gold and silver continue to hold a strong position in both cultural and investment portfolios across India.
