Sat Apr 26 15:55:42 UTC 2025: ## High Gold Prices Dampen Akshaya Tritiya Gold Rush in Bengaluru
**Bengaluru, April 26, 2025** – Soaring gold prices are causing a significant downturn in gold purchases ahead of Akshaya Tritiya, traditionally a peak buying season in India. Despite substantial discounts and promotional offers from jewelers, many consumers are delaying or forgoing gold purchases this year, citing the high cost.
Jewelers across Bengaluru are reporting a shift in buying patterns. While sales *value* has increased due to higher prices, sales *volume* remains stagnant, indicating that consumers are sticking to their existing budgets rather than increasing spending to match the inflated gold prices. This is leading to a preference for lighter, less expensive jewelry, with increased sales of 18-karat gold pieces.
Several retailers, including Abaran and JOSCO Jewellers, have confirmed the trend towards lighter jewelry and reported a decrease in overall gold sales volume despite promotional efforts like discounts (₹500 off per gram at Abaran) and giveaways (a silver idol with purchases over ₹50,000 at Shree Sai Gold Palace). These offers, while attracting some customers, haven’t fully offset the impact of high prices.
The rising gold prices, attributed in part to US-China trade tensions, are disproportionately affecting smaller jewelry businesses, according to the Karnataka Jewellers Association. Larger retailers maintain a steady customer base, but smaller neighborhood jewelers are struggling to attract buyers.
Consumers interviewed expressed concern over the escalating cost of gold, with some stating they will not be making any purchases this Akshaya Tritiya. The overall sentiment suggests that while the auspicious occasion continues to hold cultural significance, the current economic climate is forcing many to reconsider their gold-buying traditions.
First Piper 