Surge In Gold Prices Likely To Hit Akshaya Tritiya Sales In Hyderabad

Uncertainty is prevailing over sale of gold jewellery during Akshaya Tritiya as buyers are exercising more caution before investing in gold, even as the jewellery shop owners are making arrangements to woo customers with exciting offers.

Several shops at Abids, Basheerbagh, Pot Market and General Bazaar in Secunderabad, Ameerpet, Punjagutta, and Gulzar Houz near Charminar, among other areas were decked up with colorful flowers for the occasion and made arrangements to meet customers’ requirements.

With the help of contact details of customers, all the shopkeepers already started calling them explaining in detail the offers announced for Akshaya Tritiya. However, the response from several customers was not encouraging so far.

Customers informed the shopkeepers that they had not yet decided to buy gold given the yellow metal’s skyrocketing prices, which is more than Rs.95,000 for 10 grams, and month-end budgetary constraints. When the shopkeepers tried to explain the offers and discounts, the customers did not evince much interest.

Shopkeepers said the rising gold prices already registered a dip in sales significantly. Barring sales related weddings in May 2025, the shops were not registering encouraging sales for the last few weeks, said Rachakonda Mahesh of Mahesh Jewellers near Sri Ujjaini Mahankali Temple in Secunderabad.

Echoing the same views, K Ravi of Boorugu Jewellers at MG Road in Secunderabad said most customers buy gold in the form of metal instead of jewellery on Akshaya Tritiya. Owing to the escalating prices, the situation would be completely different resulting in inconsequential sales this time.

A customer seeking anonymity said they were adopting a wait-and-watch approach hoping that the prices might come down in the next few weeks. Moreover, most families were saving money to meet the expenditure of their children once the schools and colleges reopens after summer vacation.