Gold has been on a wild ride lately—soaring past ₹1 lakh per 10 grams before cooling off slightly. But with Akshaya Tritiya around the corner, the big question is: Will the yellow metal keep shining, or is a bigger correction coming?
Gold’s Stunning Run—What’s Driving It?
Since last Akshaya Tritiya (May 2024), gold has given over 30% returns, beating even stocks in some cases. And this year alone, global prices jumped 25%, hitting a record $3,500 per ounce.
So, what’s fueling this rally?
- Safe-Haven Demand: With global uncertainty (trade wars, shaky US policies, inflation fears), investors are piling into gold.
- Weak Dollar: The US dollar has been slipping, making gold cheaper for foreign buyers.
- Central Bank Buying: Countries like China and India are stockpiling gold like never before.
But here’s the catch—gold just dipped from ₹1 lakh to around ₹94,600. Is this a temporary pause or the start of a bigger drop?
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Will High Prices Scare Buyers This Akshaya Tritiya?
Akshaya Tritiya is the biggest gold-buying day in India. But with prices near record highs, will people still splurge?
- Jewellers Worry: If prices stay around ₹1 lakh, demand could drop 40-45%, says Tradejini’s Trivesh D.
- Workarounds: Lightweight jewellery, gold exchange schemes, and advance bookings might keep sales steady.
- Digital Gold & ETFs: More investors are turning to paper gold for convenience.
The World Gold Council expects strong demand regardless of prices—because in India, gold isn’t just an investment, it’s emotional and cultural.
What’s Next for Gold? Bullish or Bust?
Short-Term: Prices could stay volatile, especially with the US-China trade war and Fed rate cuts in the mix. A deeper correction isn’t off the table.
Long-Term? Analysts are still betting big:
- “This could be the start of a historic gold bull run,” says Apurva Sheth of SAMCO Securities.
- ETFs are buying again, and central banks aren’t stopping.
- De-dollarisation & debt risks could keep gold in demand for years.
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Bottom Line: Buy Now or Wait?
If you’re buying for tradition (Akshaya Tritiya, weddings), price may not matter much. But if you’re investing:
- Dollar-cost averaging (buying in small amounts over time) could help.
- Keep an eye on global cues—Fed rates, geopolitics, and the dollar’s moves.
Gold’s had a killer run, but it’s not done yet. Whether you’re in for the long haul or just grabbing a lucky gram this Akshaya Tritiya, one thing’s clear—gold isn’t losing its shine anytime soon.
What do you think—will gold hit ₹1.5 lakh in the next few years? Drop your predictions below!
