As the auspicious festival of Akshaya Tritiya approaches, gold prices across India have seen significant fluctuations. On April 29, 2025, the price of 24-carat gold stood at ₹9,797 per gram, reflecting a rise of ₹440 compared to the previous day's price of ₹9,753. Similarly, 22-carat gold reached ₹8,980 per gram, up ₹400 from ₹8,940 on April 28, while 18-carat gold was priced at ₹7,348 per gram, indicating a daily increase of ₹330 from ₹7,315.
In major cities such as Mumbai, Delhi, and Bangalore, gold prices mirrored these trends. In Mumbai, the 24-carat gold was available at ₹9,797 per gram, while 22-carat gold was priced at ₹8,980 per gram. In Delhi, 24-carat gold was quoted at ₹9,812 per gram, reflecting an increase from ₹9,768 the day before. The price of 18-carat gold in the capital was ₹7,360, up from ₹7,327, indicating a growing demand as the festival approaches.
Gold has historically been viewed as a hedge against inflation, and its allure intensifies during festive seasons. The upcoming Akshaya Tritiya, which begins on April 29 at 5:31 PM and ends on April 30 at 2:12 PM, is particularly significant for gold purchases. Many believe this day brings prosperity and good fortune, prompting increased buying activity.
In Bangalore, the prices matched those in Mumbai, with 24-carat gold at ₹9,797 per gram and 22-carat gold at ₹8,980. Chennai also reported similar prices, with 24-carat gold priced at ₹9,797 per gram, while 22-carat gold stood at ₹8,980.
Despite the recent increases, gold prices have been volatile. On April 29, the international spot gold price fluctuated between $3,299 and $3,349, settling at $3,322, down approximately 0.65% for the day. The MCX June contract for gold was also down by nearly 0.40%, trading at ₹95,640.
The recent softening of trade tensions between the US and its trading partners has impacted gold's appeal as a safe-haven investment. As investors await crucial economic data from the US, including employment changes and GDP growth, fluctuations in gold prices are expected to continue.
On the domestic front, the Indian market has seen a notable rise in silver prices as well. As of April 29, the price for silver was ₹100.50 per gram, with the cost for one kilogram reaching ₹1,00,500. This reflects a stable market for silver as gold prices fluctuate.
Looking ahead, analysts suggest that unless significant developments occur in US-China trade relations, gold prices may remain supported. The ongoing trade tensions have historically driven gold prices higher, as investors seek to mitigate risk in uncertain economic climates.
As Akshaya Tritiya approaches, many consumers are expected to purchase gold, despite the rising prices. The festival is traditionally marked by the buying of gold to symbolize wealth and prosperity. This year, prices have surged significantly compared to last year, reflecting a 30% increase from ₹73,240 per 10 grams to current levels of ₹95,000-96,000.
Experts note that while the price of gold may deter some buyers, the cultural significance of purchasing gold during Akshaya Tritiya often outweighs financial considerations. Many families consider this investment a long-term asset that can provide financial security.
In summary, as of April 29, 2025, gold prices have seen a rise ahead of Akshaya Tritiya, with 24-carat gold priced at ₹9,797 per gram and 22-carat gold at ₹8,980. The upcoming festival is anticipated to boost gold sales, with many consumers looking to invest in this traditional asset. However, the market remains sensitive to international economic developments, particularly regarding US-China trade relations, which could influence future pricing.
