Jewellery shops across Kerala were unusually busy on April 30, as Akshaya Tritiya brought with it the usual spike in gold buying. Many shops opened doors as early as 8 a.m., and crowds steadily trickled in through the day — despite gold prices staying on the higher side.
Akshaya Tritiya, considered an auspicious day to buy gold, usually draws in more customers than usual. This year was no exception, even though a gram of gold was priced at ₹8,980. That puts the cost of a sovereign (8 grams) at ₹71,840. Silver held steady at ₹109 per gram. Lightweight ornaments made with 18-carat gold were selling at around ₹7,395 per gram.
Unlike regular sale-driven spikes, this one had a cultural context. Many consider buying gold on Akshaya Tritiya to be a way of ushering in prosperity and wealth. This belief continues to drive people to the counters — even when the price tag makes some eyebrows rise.
Retailers weren’t caught off guard. Most had planned offers and discounts in advance, aiming to pull in the crowds. While some of those schemes might’ve helped, the sentiment around the day itself seemed to be doing most of the work.
Normal days usually see gold sales in Kerala between ₹200 crore to ₹300 crore. But Akshaya Tritiya often breaks the pattern. According to those in the trade, this year’s sales might climb past ₹1,000 crore.
That doesn’t mean more gold is being bought in terms of weight. In fact, with prices as they are, many buyers might be scaling down the quantity. But the value of the gold being sold — that’s where the increase is likely to show up.
Some retailers are expecting a 20% jump in sales over last year’s Akshaya Tritiya. That said, it’s too early for anyone to confirm actual figures. While the rush in stores paints a positive picture, traders will likely need a few more days to see where the numbers settle.
Either way, for a day that blends belief and buying, gold once again had its moment in Kerala.
