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India's gold-buying festival sees tepid demand on price surge
Gold demand during one of India's key buying festivals stayed muted on Sunday as record prices curbed jewellery purchases, offsetting a modest uptick in investment demand. Indians celebrated Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras, when purchasing precious metals is considered auspicious. "The sharp rally in prices curbed jewellery demand. In volume terms, buying was lower as consumers held back, though in value terms spending was higher due to elevated prices," said Amit Modak, chief executive of PN Gadgil and Sons, a Pune-based jeweller. Gold prices hit a record high of $5,594.82 ... (full story)
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- Apr 19, 2026 4:47pm Posted byFundamental Analysis163
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