New Delhi: Akshaya Tritiya, is considered an auspicious day for buying gold, silver and other metals. Gold prices are widely tracked in bullion market largely due to token purchases on the auspicious occasion of Akshaya Tritiya.

This year Akshaya Tritiya faces life-time high prices of gold with the yellow metal recently touching Rs 1 lakh mark. 

The price of gold was at around Rs 73,500 for 10 grams. Silver too has jumped to Rs 1,00,000 per kilogram from Rs 86,000 per kilogram in 2023.

Jewellers and experts opine that high prices have made some customers hesitant. Will spirit of Akshaya Tritiya be marred by the spiraling prices of the yellow metal this time? 

Satish Chandra Aluri, Lemonn Markets Desk told Zee News, “At these elevated price levels, retail demand for gold jewellery may moderate, as affordability becomes a concern. However, this is increasingly being offset by rising investment demand—particularly in gold coins, digital gold, etc.”

Gold prices are influenced by several global factors, including geopolitical developments, global growth trends, and inflation forecasts. Traditionally, gold acts as a hedge during times of uncertainty, with demand driven by a wide range of players—from institutional investors and central banks to retail buyers.

Aluri adds, this year, gold has already surged to record highs, posting over 25% year-to-date gains, fueled by tariff shocks from former President Trump and related disruptions to global growth, along with rising geopolitical tensions. 

“While prices have slightly eased in recent days amid a temporary cooling of trade tensions, the medium-term outlook remains constructive. Global growth is expected to slow, and demand from central banks and institutional investors is likely to rise as they seek diversification away from the US dollar, which is under pressure due to evolving US policy,” he says.