Akshaya Tritiya, usually a golden ticket day for jewellers, lost its shine in Ahmedabad this year. With gold prices shooting up like rockets and temperatures matching their ambition, buyers chose to stay cool — and away.
Sales dropped to almost 60% compared to last year, Jewellers’ Association of Ahmedabad (JAA) told a national newspaper. Jewellers reported a meagre 50kg of gold sold on Tuesday, a stark contrast to the 150kg bought on the same day in 2024.
Gold was trading at a blistering Rs 98,000 per 10 grams, making it less of an investment and more of a financial dare. Unsurprisingly, the turnout reflected the discomfort — only about 50 kilograms of gold were sold, a steep plunge from the 150 kilograms sold on the same day last year.
Jewellers who had braced themselves for the festive frenzy were left twiddling their thumbs and reminiscing about better years. Many reported that there were hardly any walk-ins or pre-bookings, and mentioned that even attractive offers on making charges couldn’t tempt customers. It was noted that the price touching Rs 1 lakh recently had severely dented investor sentiment.
Instead of a rush for glittering jewellery, most of the day’s action came from small purchases — primarily coins and bars. Some jewellers estimated that nearly 80% of the sales were in coin and bar form, while actual jewellery buying was minimal, limited to a few 14 or 16-carat items here and there.
Those in the bullion trade echoed the same mood, saying that the heatwave had completely drained the festive spirit. Most customers, they observed, limited their purchases to 1 or 2 grams of gold, and around 10 to 20 grams of silver.
All in all, it was a day where gold became too pricey to love, and too hot to touch — turning the usually auspicious Akshaya Tritiya into a missed opportunity, with more sweat than sparkle.
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