Gold, silver demand set to rise on Akshaya Tritiya as jewellers announce offers

Despite soaring gold prices, jewellery retailers are offering attractive discounts on making charges and also on value of the yellow metal to woo customers ahead of Akshaya Tritiya, considered an auspicious occasion to buy precious items.

Leading brands like Tanishq, Senco Gold, MP Jewellers, and PC Chandra Jewellers have announced a slew of offers to make the most of the buying season.

Tanishq is offering up to 20% discount on making charges for gold, while Senco Gold has announced a flat ₹350 discount on gold rates along with up to 30% off on making charges.

For diamond jewellery, the company announced a 100% discount on making charges and up to 15% off on the value.

MP Jewellers has offered a ₹300 per gram discount on gold jewellery and a 10% reduction in making charges.

Similarly, PC Chandra Jewellers has declared a ₹200 per gram discount on gold rates, 15% off on making charges, and a 10% value discount on diamond purchases.

"We are expecting Akshaya Tritiya to be very good as consumer confidence in gold is at an all-time high," Annargha Uuttiya Chowdhury, Director, Anjali Jewellers, told PTI.

"To cash in on the gold craze, we are offering discounts on making charges to ensure the shopping experience is more exciting for customers."

Highlighting the strong outlook for gold, Chowdhury said the yellow metal is considered a safe haven and with the current global scenario, and banks across the world are buying gold to hedge against expected major inflation.

"This has added to consumer confidence as the return on investment on gold has surpassed all asset classes," he said.

The price of 22-carat gold is hovering around ₹9,000 per gram in Kolkata, up by over 30% over last year.

"If the current scenario continues, gold prices may glide upwards by another 5-7% in the short term. Immediate price correction isn’t visible on the horizon, and market volatility is expected to continue through 2025," he added, urging consumers to consider gold purchases at this point.

Senco Gold MD & CEO Suvankar Sen noted that volumes have dipped due to soaring gold prices, but auspicious buying sentiment is expected to stay firm.

The company is, however, innovating to maintain affordability.

"We are trying to reduce the 25-30% cost of marriage ornaments by incorporating pearls and stones to lower gold usage in sets," he said.

The optimism around gold purchases is further supported by strong investment demand.

According to a report by ICRA Analytics, inflows into gold exchange-traded funds (ETFs) jumped 98.54% year-on-year to ₹1,979.84 crore in February 2025, compared to ₹997.21 crore in the same month a year ago.

The net assets under management (AUM) for gold ETFs nearly doubled to ₹55,677.24 crore from ₹28,529.88 crore during the same period.

Gold ETFs offer an attractive alternative for investors seeking gold exposure without the complexities of physical ownership.

Silver, too, is drawing increasing investor interest. Akshaya Tritiya season for jewellers this year,backed by wedding season buying.