The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InGold demand in India remained significantly muted during the Akshaya Tritiya festival, the country's second-largest gold-buying occasion, as record-high prices deterred traditional retail consumers. Domestic gold futures surged to approximately 154,609 rupees per 10 grams, marking a staggering 63% increase compared to the previous year's festival period. This price rally forced a shift in consumer behavior, with many buyers pivoting away from jewelry toward gold coins for investment purposes due to their higher liquidity. Despite jewelers offering substantial discounts on making fees to entice shoppers, the volume of physical sales saw a notable decline. Analysts suggest that weakened physical demand from the world's second-largest gold consumer could act as a headwind for global spot prices. However, the high value-spend per transaction has provided some offset to the lower overall sales volumes reported by the industry.