Gold Prices See A Slight Dip Today On Akshaya Tritiya: Check Rates In Kerala
This year’s Akshaya Tritiya saw gold prices holding steady, giving a small relief to buyers on the auspicious day. However, prices remained close to all-time highs, causing many to reduce the quantity of their purchases compared to previous years.
In Kerala, on Wednesday, the price of one sovereign (8 grams) of gold stood at ₹71,840. For 24 karat gold, the rate was ₹29,791 per gram, while 22 karat was ₹28,980, and 18 karat stood at ₹27,341 per gram.
Gold prices have increased by over 35% in the past year, with 10 grams of gold touching ₹1 lakh — a big jump from ₹73,500 during Akshaya Tritiya in 2023. Silver prices also saw a sharp rise, reaching ₹1,00,000 per kilogram, up from ₹86,000 last year.
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Despite the high prices, overall sales value may not drop much since the rates are at record highs. Many customers took advantage of advance booking options, which helped maintain activity in the market.
The Confederation of All India Traders (CAIT) noted a “mixed trend” in gold and silver buying this Akshaya Tritiya, largely due to the price surge. “Jewellery markets across the country are seeing different types of customer behaviour because of the sharp increase in gold and silver rates,” CAIT said in a statement.
For those planning to buy gold ornaments, the total cost is now much higher. With a 10% making charge added, along with hallmarking fees and GST, a typical ornament can cost over ₹81,400. Most regular jewellery comes with making charges between 5% to 10%, depending on the design.
While gold remains a traditional favourite on Akshaya Tritiya, this year’s prices have led many buyers to spend more cautiously, opting for smaller purchases or bookings to manage costs better.
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Akshaya Tritiya, also known as Akha Teej, is one of the most auspicious days in the Hindu calendar. It is widely believed that buying gold on this day brings lasting prosperity, wealth, and good fortune.
The word Akshaya means “never diminishing,” symbolising eternal success and abundance, making it a perfect occasion for new beginnings and investments.
Traditionally, many people purchase gold on Akshaya Tritiya with the belief that it will multiply their wealth over time. This age-old custom is deeply rooted in faith and is passed down through generations, especially in Indian households.
According to Hindu mythology, Akshaya Tritiya is associated with Lord Vishnu, the preserver of the universe. It is also observed as the birth anniversary of his sixth incarnation, Lord Parashurama, making the day even more spiritually significant.
People celebrate the festival by performing pujas, donating to the needy, and investing in valuable assets like gold, land, or property.
