No gold rush? Bookings drop ahead of Akshaya Tritiya in Bengaluru

Bengaluru: Even though gold prices have eased from recent highs, demand in the run-up to Akshaya Tritiya (which falls on Sunday) remained subdued in the city, with jewellers reporting a 25% drop in bookings as buyers held back amid volatility and global uncertainty due to the West Asia conflict.After rising sharply to nearly Rs 15,000 per gram from last year's Rs 7,500–Rs 8,000 range, gold prices have seen some correction. However, jewellers say the dip has not translated into higher demand, with many consumers expecting further softening.Sharavana TA, president of Karnataka Jewellery Association, said, "Compared to previous years, gold rates have increased significantly. Last year, gold was around Rs 7,500-Rs 8,000 per gram, but now it is nearly Rs 15,000 per gram. Silver has also moved from about Rs 100 to Rs 250 per gram. The prices fluctuate a lot — when they increase, they go very high, and when they decrease, they fall sharply."He added that customers are monitoring the progress of the war, as global conflicts are influencing gold rates. "Usually, many book items a month in advance. This time, due to high prices, lightweight jewellery is in demand. We are planning one-gram gold coins and five-gram silver coins minimum. Temple and antique jewellery are also seeing more demand. Overall, bookings are down by around 25%," Sharavana said.Surendra Mehta, national secretary, India Bullion and Jewellers Association Ltd, said: "Traders are not optimistic, and there is no uptake in sales despite gold prices moving both ways, linked to the uncertainty."However, bigger stores are expecting strong sales. According to Dinesh Pagariya, managing director of JJJ Jewellers Pvt Ltd, sales are expected to go up by 20%. "Prices have come down by 10% now, which is a golden opportunity for many. Most customers are looking for jewellery rather than gold bars and coins," Pagariya said. The digital gold trendDigital gold is becoming increasingly popular, mainly because it is convenient and allows people to invest in small amounts. This trend is particularly visible among younger consumers, who are more inclined towards digital platforms and prefer the ease of investing without physically visiting stores.Vaibhav Joshi, a second-year BA student, said: "I invest my leftover pocket money each month in digital gold because I feel it is a safe way for my money to grow."However, jewellers remain unsure about its long-term impact. A gold store owner said: "Digital gold may be convenient, but it comes with platform charges and limited resale margins. Meanwhile, physical gold can be sold at market rates and offers greater security."— Jia Khosla & Nyasa GuptaGet real-time updates and result insights on the CBSE 12 Result 2026.