Gold and Silver Prices Fall on Akshaya Tritiya Amid Profit Booking
New Delhi, 30th April 2025: In a surprising development on the auspicious occasion of Akshaya Tritiya, gold and silver prices registered a sharp decline due to profit booking by investors. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold dropped by ₹1,650 to ₹94,361, down from the previous rate of ₹96,011.
Silver prices also saw a significant fall. The price of one kilogram of silver declined by ₹3,276, reaching ₹94,114 from the earlier rate of ₹97,390 per kg.
Experts attribute this drop to profit booking, following a recent surge in precious metal prices. Investors, who had bought at lower prices, are now cashing in on gains. Analysts suggest that the correction could continue in the short term, especially after gold touched an all-time high of ₹99,100 on April 21, and silver hit ₹1,00,934 on March 28.
Why Akshaya Tritiya Matters for Gold Buyers
Akshaya Tritiya is traditionally considered an auspicious day for buying gold in India. Many people believe that purchasing gold on this day brings prosperity and financial security. Jewelers across the country typically see a spike in sales, regardless of price fluctuations.
Tips for Safe Gold Purchases
For those planning to buy gold today, experts advise keeping the following precautions in mind:
1. Buy Certified Gold:
Always ensure that the gold is hallmarked by the Bureau of Indian Standards (BIS). Look for the Hallmark Unique Identification Number (HUID), a 6-digit alphanumeric code like “AZ4524”, which certifies the purity.
2. Cross-Check Pricing:
Compare gold rates across trusted platforms such as the IBJA website. Prices vary by purity — 24-carat gold is the purest but is too soft for making jewelry, while 22-carat and 18-carat variants are more commonly used in ornaments.
3. Avoid Cash Payments, Ask for a Bill:
Opt for digital payment methods like UPI, debit, or credit cards for transparency. Always ask for a proper bill, and if buying online, check the packaging and documentation carefully upon delivery.
