Gold prices in India experienced a notable surge on April 29, 2025, just a day before the auspicious festival of Akshaya Tritiya, a day celebrated by Hindus and Jains for buying gold and other valuables. The rise in gold prices comes after a previous decline that saw rates dip from record highs of over ₹1 lakh per 10 grams of 24-karat gold, achieved just a week prior.
As of 12:29 PM on April 29, the June 5 gold futures contract was trading at ₹95,627, reflecting a decrease of 0.41%. However, retail prices showed an upward trend, with 24-karat gold priced at ₹97,970 per 10 grams and 22-karat gold at ₹89,800 per gram, according to reports from Goodreturns.
In major cities across India, gold prices varied. In Delhi, the price for 22-karat gold was ₹89,950, while 24-karat gold was priced at ₹98,120. Mumbai reported similar rates with 22-karat gold at ₹89,800 and 24-karat gold at ₹97,970. Other cities like Chennai, Bengaluru, and Kolkata also aligned closely with these pricing trends, indicating a nationwide demand surge ahead of the festival.
Chennai recorded the highest gold rate at ₹95,780 per 10 grams on Akshaya Tritiya, which is traditionally viewed as a favorable time for making purchases. In Kolkata, gold was priced at ₹95,380, while Bengaluru saw rates at ₹95,580. This festival is significant for many as it symbolizes prosperity and good fortune, leading to increased gold purchases.
Gold is often seen as a safe-haven asset, particularly in times of economic uncertainty. Recent fluctuations in prices have been influenced by various factors, including a stronger U.S. dollar and easing trade tensions between the United States and China, which have contributed to a more favorable investment climate.
On the international front, gold prices dipped slightly, with global spot gold prices falling by 0.03% to $3,316.35 an ounce on April 29. The decline in gold prices was attributed to a stronger U.S. dollar and easing trade war concerns, which have historically driven investors toward gold as a protective asset.
Despite the recent price dips, gold remains a popular investment choice in India, where it is viewed not just as a commodity but also as an integral part of cultural traditions, especially during festivals like Akshaya Tritiya. Many believe that purchasing gold on this day brings lasting wealth, as it is considered an auspicious time to make significant financial decisions.
In terms of silver, the prices also saw an increase, with silver trading at ₹100.50 per gram on April 29, while the price for one kilogram reached ₹1,00,500. In major cities like Bangalore and Mumbai, silver prices remained stable at ₹100.50 per gram.
The upcoming Akshaya Tritiya is set to begin on April 29 at 5:31 PM and will conclude on April 30 at 2:12 PM. The Puja Muhurat, a time for performing religious rituals, will take place on April 30 from 5:40 AM to 12:18 PM. This period is expected to see a significant uptick in gold purchases as families look to secure their fortunes for the year ahead.
As the festival approaches, analysts recommend that consumers stay informed about the latest gold rates in their respective cities, as prices can fluctuate daily. With the demand for gold expected to rise during this festive season, many consumers are encouraged to check prices from reliable sources before making their purchases.
In summary, the gold market in India is poised for a busy period as Akshaya Tritiya approaches, with prices reflecting both local demand and global market influences. Investors and consumers are reminded to stay vigilant about price changes and to consider the long-term value of their purchases, particularly in light of the cultural significance of gold in Indian society.
