Key Highlights
- Gold prices have surged to ₹96,450 per 10 grams, nearing the ₹1 lakh milestone.
- Prices have risen by 32% since Akshaya Tritiya 2024, driven by global tensions and increased demand.
- Analysts predict gold could cross ₹1 lakh by Akshaya Tritiya on April 30, 2025, fueled by festive buying and economic uncertainty.
- Gold has delivered over threefold returns in six years, making it a lucrative investment.
New Delhi: Gold prices in India have reached record highs, crossing ₹96,450 per 10 grams, a significant milestone as the auspicious festival of Akshaya Tritiya approaches. The precious metal has seen a meteoric rise of ₹6,250 in a single day last Friday, driven by heightened geopolitical tensions, U.S.-China trade conflicts, and strong investor demand for safe-haven assets.
Experts believe that gold is on track to breach the ₹1 lakh mark soon, with Akshaya Tritiya (April 30) expected to further boost demand.
Why Are Gold Prices Surging?
Several factors have contributed to this unprecedented rally:
- Global Geopolitical Tensions: Escalating U.S.-China trade wars and economic uncertainties have driven global investors toward gold as a safe-haven asset.
- Weakening Dollar: The U.S. Dollar Index has dropped to multi-month lows, making gold more attractive internationally.
- Festive Demand: Akshaya Tritiya and the upcoming wedding season are expected to fuel retail gold purchases in India.
- Central Bank Policies: Increased gold reserves by central banks globally have supported prices.
Akshaya Tritiya: A Key Driver for Gold Demand
Akshaya Tritiya is considered one of the most auspicious days for buying gold in India. Analysts expect a surge in demand as consumers flock to purchase gold for prosperity and good fortune.
- In 2024, gold was priced at ₹73,000 per 10 grams during Akshaya Tritiya. This year, prices have already crossed ₹96,000 a staggering 32% increase.
- Retailers anticipate robust sales despite high prices, with many consumers opting for lightweight jewelry or gold coins to manage costs.
Gold’s Performance Over the Years
Gold has consistently delivered impressive returns over the past six years:
| Year | Price on Akshaya Tritiya (₹/10g) | Annual Growth (%) |
|---|---|---|
| 2019 | ₹31,729 | — |
| 2020 | ₹46,000 | +32% |
| 2021 | ₹47,000 | +2.5% |
| 2022 | ₹50,000 | +6% |
| 2023 | ₹60,000 | +15% |
| 2024 | ₹73,000 | +20% |
Since 2019, gold has tripled in value, offering over 10% annualized returns, making it a preferred investment during economic uncertainty.
Will Gold Cross ₹1 Lakh by Akshaya Tritiya?
Market analysts are optimistic but cautious about whether gold will hit ₹1 lakh per 10 grams by April 30:
- Experts predicts that global uncertainties and expected U.S. Federal Reserve rate cuts could push prices beyond this milestone.
- However, some experts argue that technical resistance might prevent such a sharp jump in the short term.
Investment Outlook: Is It Time to Buy Gold?
Gold remains an attractive investment option due to its historical stability and ability to hedge against inflation:
- With geopolitical tensions persisting and inflationary pressures rising globally, gold is expected to maintain its bullish momentum throughout 2025.
- Investors are advised to adopt a “buy-in-parts” strategy to capitalize on potential price corrections while securing long-term gains.
Conclusion: A Golden Opportunity for Investors
As Akshaya Tritiya approaches, all eyes are on whether gold will breach the historic ₹1 lakh mark. With its strong performance and cultural significance in India, gold continues to be a symbol of wealth and security for millions.
Whether you’re buying for investment or tradition, this year’s rally underscores why gold remains one of the most sought-after assets globally!
