The recent geo-political crisis has significantly eroded the purchasing power of Indian middle-class consumers. Yet, during occasions such as Akshaya Tritiya, they wake up from a deep slumber like Rip Van Winkle and rush to their favourite jewellery shops to buy hallmarked gold ornaments, coins or bars, reinforcing gold’s appeal as a safe-haven investment.
This trend has persisted over the past few years, with jewellery retailers witnessing strong momentum in the post-Covid period. Akshaya Tritiya continues to be the nation’s second-largest gold buying festival.
Sunday to be Golden day
This year, Akashya Tritiya Utsav falls on April 19, 2026, Sunday. Since April 10, major jewellers started wooing retail investors offering free gift vouchers or silver coin, cashback, 10% pre-booking, reduced making charges and no wastage. The offers are sent through SMS, emails and whatsapp.
Festival demand remains resilient
According to data from the Indian Bullion and Jewellers Association and the Confederation of All India Traders, sales during last year’s Akshaya Tritiya were estimated at around ₹16,000 crore.
Consumers throng both established and neighbourhood retail stores, driven by trust, legacy, quality and attractive offers. Jewellers entice buyers with discounts on wastage and making charges, even as pricing variations per carat persist across retailers under the watch of industry associations.
Retail footfalls driven by trust and offers
Retail investors are increasingly diversifying their gold exposure, purchasing physical and digital gold, and investing in exchange-traded funds. There is also a visible shift towards lightweight jewellery, natural and lab-grown diamonds, along with silver and platinum.
Industry bodies such as the Indian Bullion and Jewellers Association (IBJA), All India Gem and Jewellers Association, Tamil Nadu Jewellers Federation, and the Madras Jewellers & Diamond Traders Association continue to boost consumer confidence, promote hallmarked gold and provide insights into evolving trends.
Shift in buying patterns gains momentum
With gold prices remaining elevated, consumer preferences are tilting towards lightweight and contemporary jewellery, particularly 22K and 18K, which are seen as both aspirational and accessible investment options, said World Gold Council India Regional CEO Sachin Jain.
A Kotak Neo Research report noted that demand for gold in value terms is expected to remain firm, with strong traction in investment-oriented products such as coins and small bars.
Rising prices alter consumer choices
While some retail jewellers have been in the business for several decades, the younger generation is increasingly focusing on lightweight jewellery, non-gold items and lab-grown diamonds.
In Tamil Nadu, retail investors favour brands such as Tanishq, Vummidi Bangaru Jewellers, Kerala Jewellers, CaratLane, Kalyan Jewellers, Malabar Gold and Diamonds, Bhima Jewellers, Joyalukkas, Jos Alukkas, GRT Jewellers, Thangamayil Jewellers, Pothys, NAC Jewellers, Khazana Jewellers and Lalitha Jewellers, though the gap between organised and unorganised players remains wide.
Organised players strengthen market presence
This year, Akshaya Tritiya is being observed on April 19, with buying gold on this day traditionally believed to bring prosperity.
However, a key question continues to linger in investors’ minds: in the Akshaya Tritiya gold rush, who ultimately makes more money — the buyer or the seller?