Record High Gold Prices Impact Buyers

The unprecedented rise in gold prices above Rs 1 lakh/10gm has led to a noticeable decline in demand during Akshaya Tritiya, despite jewellers rolling out attractive schemes to lure customers.

Jewellers' Strategies to Counter High Prices

From slashing making charges to offering gold jewellery as prizes, jewellers across India, including Malabar Group, have introduced innovative schemes to mitigate the impact of soaring prices and encourage purchases.

Shift Towards ETFs and Lightweight Options

As gold prices hover between Rs 94,000 and Rs 95,000, consumers are increasingly turning to gold exchange-traded funds (ETFs) and more affordable options like lightweight gold jewellery and silver, marking a significant shift in buying patterns.

Market Sentiments and Sales Volume

Despite lukewarm sentiments and a projected 30% drop in business volume compared to last year, the value of gold sold remained robust, with approximately 20 tonnes worth Rs 18,000 crore traded nationwide.