Brisk gold buying on Akshaya Tritiya

Gold and silver buying in India -- the world's largest gold consumer -- kicked off positively Wednesday's auspicious Akshaya Tritiya festival despite high prices, with jewellers' body GJC projecting gold sales to jump 35 per cent in value terms over the last year.

- PRESS TRUST OF INDIA

Consumer footfalls were higher in south India during the first half of the day and were expected to increase in Maharashtra and northern states later due to extreme weather conditions.

Gold prices are trading between Rs 99,500 and Rs 99,900 per 10 grams across different parts of the country, 37.6 per cent higher than Rs 72,300 on Akshaya Tritiya in 2024.

Consumers who had hesitated to buy gold at elevated prices are now purchasing as prices have stabilized from peak levels, All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokede told PTI.

"We expect gold sale to remain steady at last year's level of 20 tonnes. However, in value terms, we see 35 per cent increase in gold sale today," he said.