Jewellery retailers are rolling out substantial discounts on making charges and gold prices to attract customers ahead of Akshaya Tritiya on April 30, an auspicious day for purchasing precious items. Even though gold prices are soaring, prominent brands, including Tanishq, Senco Gold, MP Jewellers, and PC Chandra Jewellers, have unveiled various promotional schemes for the upcoming buying season.
Tanishq is offering up to 20 per cent off on gold making charges, while Senco Gold is providing a flat Rs 350 reduction in gold rates and up to 30 per cent off on making charges. Additionally, on diamond jewellery, Senco Gold is waiving making charges entirely and offering up to 15 per cent value discount.
MP Jewellers is offering a Rs 300 per gram discount on gold jewellery, along with a 10 per cent reduction in making charges. PC Chandra Jewellers has announced Rs 200 per gram off on gold rates, a 15 per cent discount on making charges, and 10 per cent off on diamond jewellery purchases.
“We are expecting Akshaya Tritiya to be very good as consumer confidence in gold is at an all-time high,” said Annargha Uuttiya Chowdhury, director of Anjali Jewellers said in a statement to PTI. “To capitalize on the gold craze, we are offering discounts on making charges to ensure the shopping experience is more exciting for customers.”
Chowdhury further highlighted gold’s role as a safe haven, noting that global banks are purchasing gold to protect against potential inflation. “This has boosted consumer confidence, as the return on investment in gold has outperformed all other asset classes,” he added.
In Kolkata, 22-carat gold is priced around Rs 9,000 per gram, reflecting a 30 per cent increase from the previous year. Chowdhury further forecasted that gold prices could rise by 5-7 per cent in the short term. “Immediate price correction isn’t visible on the horizon, and market volatility is expected to continue through 2025,” he noted, encouraging consumers to consider purchasing gold now.
Senco Gold’s MD & CEO, Suvankar Sen, acknowledged reduced volumes due to higher gold prices but remained optimistic about strong buying sentiment. “We are trying to reduce the 25-30 per cent cost of marriage ornaments by incorporating pearls and stones to lower the gold usage in sets,” he said.
Investment demand is also contributing to a positive outlook for gold purchases. ICRA Analytics reported that gold ETF inflows surged by 98.54 per cent year-on-year to Rs 1,979.84 crore in February 2025, compared to Rs 997.21 crore in February 2024. Gold ETFs’ net assets under management nearly doubled to Rs 55,677.24 crore from Rs 28,529.88 crore during this period, making them an attractive option for investors seeking gold exposure without the complications of physical ownership.
Silver is also drawing increasing attention from investors. Zerodha Fund House reports that silver ETF AUM in India surpassed Rs 13,500 crore as of January 2025, reflecting growing interest since SEBI permitted asset management companies to launch silver ETFs in November 2021.
The sector is anticipating a strong Akshaya Tritiya season, buoyed by wedding purchases, positive global trends, and strong investment demand.