Gold and silver purchases during Akshaya Tritiya carry deep cultural significance in India, where bullion serves not only as a store of wealth but also as a key vehicle for intergenerational transfer. This tradition underpins resilient physical demand, even during periods of elevated prices.
Since Akshaya Tritiya last year, both have witnessed a sharp rally, generating strong returns for investors. Historical data over the past nine years indicates that purchases made on the festival day have consistently delivered gains, broadly aligning with gold’s long-term upward trajectory.
Indian households are estimated to hold 11–16% of all the ever mined above ground — exceeding the combined national reserves of the US, Germany, Italy, and Russia, the world’s four largest official gold holders, according to InCred Money.
have surged approximately 56% since April 30, 2025 — when Akshaya Tritiya was observed last year. On that day, 24-carat gold was priced at ₹97,910 per 10 grams; as of April 16, 2026, prices have climbed to around ₹1,54,700 per 10 grams, tracking global gains amid heightened macroeconomic uncertainty. This year, the festival will be observed on Sunday, April 19, 2026.
“India’s gold demand is set to pick up ahead of Akshaya Tritiya on April 19, an auspicious day traditionally associated with buying precious metals, with dealers expecting robust retail interest despite elevated prices. Domestic have surged nearly 56% since last year’s festival,” said Jigar Trivedi, Senior Research Analyst – Currencies & Commodities, IndusInd Securities.
Silver, meanwhile, has significantly outperformed gold, delivering returns of over 155% since last year’s festival. have risen from approximately ₹1,00,000 per kg to ₹2,55,000 per kg, underscoring its dual appeal as both a precious and industrial metal.
“The rally in bullion has been driven by a combination of elevated geopolitical risk premiums, a softer US dollar, and sustained central bank buying, as policymakers navigate an uncertain global growth environment,” Trivedi added.
Gold vs Silver: What should investors consider?
While both gold and have experienced heightened volatility, the underlying outlook remains constructive.
“Gold has delivered a strong performance over the past five years, consistently generating positive returns around . The momentum has been particularly notable over the past two years, with gains of approximately 40% and 47% in dollar terms,” said Deveya Gaglani, Senior Research Analyst – Commodities at Axis Securities.
Gaglani expects gold to maintain a positive bias in 2026, supported by either a stagflationary environment or softer crude oil prices.
“Gold prices could retest the $5,300 – $5,500 range over the next year, implying an upside of around 10–15% from current levels. In the domestic market, prices are expected to reach ₹1,70,000 – ₹1,85,000 over the same period,” she noted.
Trivedi, however, advises investors to adopt a staggered approach rather than deploying lump-sum investments at current elevated levels.
“Silver, given its combined industrial and investment demand, is likely to remain on an upward trajectory, albeit with high volatility. While near-term price swings are expected, the medium-term outlook remains positive. could approach ₹1,80,000 per 10 grams by Akshaya Tritiya next year, while silver prices may rise to around ₹3,50,000 per kg,” he said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.