While astronomical gold prices led to a decline in sales volumes during Akshaya Tritiya 2025, the sales value increased by nearly 25%, driven by consumer behaviour and retailer incentives. Consumer confidence in natural diamond jewellery remained strong.
On April 30, 2025, Akshaya Tritiya witnessed a significant change in gold buying patterns across India, largely influenced by historically high prices. With rates approaching ₹95,000 per 10 grams—a nearly 30% jump from the previous year—many consumers hesitated to buy in large quantities.
Gold sales volumes declined by an estimated 15–30% compared to the same occasion in 2024.
A substantial number of buyers turned to exchanging old jewellery, which reportedly accounted for nearly half of all transactions. Interestingly, while the quantity of gold sold dropped, the overall value of sales increased by around 15–25%, with the market seeing approximately 12 tonnes sold, valued at roughly ₹12,000 crore.
Silver also attracted significant demand, with sales reaching around 400 tonnes and generating about ₹4,000 crore in revenue.
Retailers responded strategically, with larger jewellery chains offering competitive discounts on making charges, giving them an edge over smaller stores. In terms of buying preferences, consumers leaned towards studded jewellery priced below ₹2 lakh, along with steady interest in gold bars and coins for investment.
Demand remained particularly strong in South India, especially for plain gold and diamond jewellery pieces.
Solitaire International reached out to some top industry voices for their insights:
Sachin Jain, Regional CEO, India, World Gold Council
Gold purchases have traditionally been an integral part of Akshaya Tritiya celebrations for millions of Indians, symbolising prosperity and good fortune. We are currently witnessing, sky rocketing gold prices – the ‘gold era’.
This year marks a significant period for gold, with global prices increasing by 25% since January and reaching a record high of $3,500 per ounce.
In India, gold prices have hit historic highs of Rs. 1 lakh per 10 grams, reinforcing the belief in the yellow metal. Gold’s status as a haven is at an all-time high, and industry feedback suggests a strong buyer interest in various forms of gold, including higher carat gold jewellery, gold ETFs, digital gold, and coins and bars, further solidifying gold’s role in Indian households. Despite external factors such as tariff-related uncertainties, gold jewellery retailers were well-stocked and optimistic about favourable buying behaviour.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers
We witnessed encouraging momentum during Akshaya Tritiya, with healthy footfalls and traction across our outlets in India, the Middle East, and the USA. Despite ongoing market volatility, consumer preferences leaned towards gold, particularly in the lightweight jewellery category, with notable traction in rings, earrings, pendants, and chains. The diamond category also saw good movement, especially within lightweight designs. In line with traditional buying behaviour ahead of weddings, we observed a significant number of Thaali (mangalsutras worn by south Indian married women) orders and purchases, reaffirming Akshaya Tritiya’s position as an auspicious occasion for pre-wedding purchases. Gold coins continued to be a preferred choice among customers, alongside strong demand for silver – both in coins and artefacts. Our quick commerce partnership delivered encouraging results, allowing us to reach a new customer segment and adding a fresh dimension to this festive season.
Ramesh Narang, Director, Hazoorilal Legacy
Gold, a timeless symbol of prosperity, purity, and grace, holds a meaning far deeper than its brilliance. It carries our dreams, our hopes, and the traditions passed through generations. At Hazoorilal Legacy, Akshaya Tritiya is a tribute to these enduring ideals. Our festive collection is not merely jewellery—it reflects moments that last, of beauty that endures, and of memories meant to be treasured for a lifetime. We believe this cherished tradition will continue to thrive, as it did this year, as people remain inspired by the enduring significance of gold — a treasure valued as much in our hearts as it is in our heritage.
Surendra Mehta, National Secretary, IBJA
Jewellery sales during Akshaya Tritiya were extremely good in South India. However, jewellers saw very few footfalls in the rest of the country. Corporate multi-chain stores seem to have performed well, while single retail shops underperformed on this festive day. Overall, demand in terms of value is expected to be nearly equal to last year, but gold sales by volume appear to have dropped by at least 15%. Lightweight jewellery, low-caratage pieces, and coins were in good demand.
Vaishali Banerjee, Managing Director – India, Platinum Guild International
This Akshaya Tritiya, platinum jewellery recorded a robust growth 12–15% at a national level, with South India emerging as the key growth driver at approximately 18%. For our consumers, owning platinum is about personal symbolism. It represents aspiration and meaningful milestones. This consistent upward trend in growth reflects young India’s appetite for premiumisation. Given its current price point and the inherent rarity and preciousness it offers, platinum has quickly established itself as a preferred metal of choice in the market
Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers
Akshaya Tritiya continues to be the single largest gold-buying day across India, with the auspicious mahurat spanning from morning till midnight today. So far today, customer response has been very welcoming and appears to be at par with this year’s Gudi Padwa, which delivered exceptional sales for us. We are witnessing steady interest in gold, diamond and silver jewellery. Despite record-high gold prices, consumer sentiment remains upbeat, and people have accepted the price trend and are buying with confidence.
One clear trend this year is the increasing exchange of old gold, particularly among wedding shoppers. Nearly 50% of purchases are being financed through old gold, allowing customers to manage their budgets smartly without compromising on their festive or wedding needs. While volume growth may see a marginal dip of 8–9%, value-wise, we expect to be up by 20–25%, which is a healthy sign of market resilience.
We are also seeing impressive traction in diamonds and other studded jewellery, which is driven by design appeal and relative value. The overall environment is bullish, and Akshaya Tritiya once again reaffirms the timeless trust Indian consumers place in precious metals as both investment and tradition.
Vaibhav Saraf, Director, Aisshpra Gems & Jewels
Natural diamond jewellery as a category performed well for us, with its contribution increasing by nearly 17% year-on-year compared to last Akshaya Tritiya. We received a good amount of interest in solitaires under 0.50 carat, as many customers appreciate delicate, everyday jewellery pieces.
Bhavana Jakhia, Director, OM Jewellers Pvt Ltd
This Akshaya Tritiya, we sold 1 to 1.50 carat pieces the most across our stores. We observed a mix of jewellery being purchased, as the wedding shopping season has begun. Clients looking for everyday jewellery were also inclined to buy earrings and bracelets. Meanwhile, high-end clients gravitated towards heavier necklaces featuring a pop of colour and diamonds, adding a modern twist to traditional designs. Overall, we saw a 7–10% increase in diamond sales across our branches.
Piyush Gupta, Director, PP Jewellers by Pawan Gupta
Gold prices rose this season, but consumers still purchased jewellery. We saw a 5–10% increase in gold jewellery sales compared to last year, as many continue to view gold as both an emotional investment and a smart way to hedge against inflation. This year, more people opted for lightweight, easy-to-wear jewellery—especially bangles and everyday pieces.
Our diamond jewellery sales, across all three stores—in Gurugram, Karol Bagh, and South Extension, New Delhi, rose by 10% year-on-year compared to the last festive occasion. Today’s buyer is looking for jewellery that is stylish, certified, and delivers true value.
Shaifali Gautam, CMO, CaratLane
Despite gold prices reaching record highs, the strong emotional connect with gold during Akshaya Tritiya ensured that consumer sentiment remained resilient. Customers continued to buy, though we saw a clear shift toward more thoughtful, planned purchases. Strategic tools like our Plan of Purchase (PoP) scheme helped customers navigate price sensitivity while securing meaningful investments.
Lightweight gold jewellery emerged as the clear preference. Popular price points ranged between ₹30,000 to ₹75,000, with customers choosing elegant everyday-wear pieces over traditional heavy sets. Lightweight rings, earrings, and bracelets led the buying trend, allowing consumers to balance their festive aspirations with smart investment decisions.
Diamond designs saw a good traction this Akshaya Tritiya, especially in the 0.10–0.30 carat size range, which fits perfectly into the lightweight, everyday luxury space. Consumers increasingly opted for minimalistic, versatile designs that could be worn daily aligning with the broader shift towards self-purchase and personal rewards.
While we are still finalising numbers, initial estimates suggest a double-digit growth in both sales volume and value year-on-year. Our early engagement campaigns, expansion into new cities with 22 new stores, and strong demand for lightweight, versatile designs contributed significantly to this growth.
Neil Sonawala, Managing Director, Zen Diamond India
This season, we saw strong demand for natural diamond sizes between 0.30 to 0.50 carats, which aligns perfectly with our core focus on timeless, everyday luxury. The sweet spot for purchase value was between ₹1.5 lakhs to ₹2.5 lakhs, highlighting a healthy appetite for fine jewellery that balances emotional significance with investment value.
This season clearly favoured daily wear natural diamond jewellery—especially pieces that effortlessly fit into modern lifestyles while retaining cultural symbolism, like our signature mangalsutras and delicate natural diamond jewellery for everyday wear.
Additionally, awareness for brand has seen a significant boost, thanks to strong word-of-mouth, increased store footfalls, and strategic collaborations. We’re thrilled to see our international design sensibilities resonating with the modern Indian consumer and will continue investing in building deeper, more meaningful brand connections.
Vinay Bamalwa, Director, Nemichand Bamalwa Jewellers, Salt Lake
People with an investment mindset always continue buying gold at regular intervals from reputed brands like ours.
Despite the newer heights that gold had reached, we were happy with the footfall at our stores. They bought jewellery as well as bullion depending on their needs and occasions.
Gold has been popular across various price points historically. People have started adjusting for the increase in gold prices. The proportion of lighter weight jewellery has increased slightly but heavier jewellery continues to be in trend.
Consumer confidence in natural diamonds has been steadily increasing especially for brands like ours who have invested in sophisticated machinery for detecting lab-grown diamonds and are selling natural diamonds only. Sizes of 1ct to 5 cts have been steadily growing in demand in the last six months, and it has been promising across all our price points .
Pratik Dugar, Director, Indian Gem & Jewellery Creation
Despite gold peaking at near historic highs, sentiment for gold jewellery remained high – not just for light jewellery but also for heavy gold jewellery. Gold jewellery and gold coins sales were not impacted.
In diamond jewellery segment, lightweight jewellery such as rings, earrings and bracelets saw a good conversion. Small sized solitaires below 2 carats did well. As the diamond prices have fallen in the past few months.
Vijay Soni, Director, Mahabir Danwar Jewellers
There is a noticeable shift towards diamond jewellery this season. With prices remaining relatively stable, diamonds have become more accessible and offer greater value, aligning well with customers’ budgets. Despite market fluctuations, people still wish to mark special occasions like Akshaya Tritiya with meaningful purchases — and diamond jewellery has emerged as the ideal choice.
Dhruv Jhaveri, Director, Madanji Meghraj Jewellers
Gold has always been rising so consumers are aware of its intrinsic investment value other than adornment purposes, and that is the reason gold is bought year on year on this day.
Lightweight is in demand not only due to cost but also there is a generic shift in preferences of what the younger generations prefer to wear.
As for diamonds, smaller diamond jewellery is in demand. Single line pointer bangles/bracelets were sought, ranging from Rs. 50,000 to Rs. 100,000.
Natural diamonds are regaining its place in the market.
Ramit Kapur, Managing Director, GSI India
While plain gold jewellery continues to be a traditional favourite during Akshaya Tritiya, this year we’ve observed a clear uptick in studded jewellery across key Indian markets. Though diamond jewellery remains popular in the studded category, we have been seeing growing consumer interest in coloured stone jewellery and classic jewellery with rose-cut diamonds.
Certification data from our labs shows a sharp rise in submissions for these categories, signalling a shift in buyer preferences towards more expressive and personalised choices. The share of studded jewellery in the demand mix has grown over 15% compared to previous year, indicating that consumers are looking beyond the conventional and embracing individuality even in festive purchases.