Gold rate today on Akshaya Tritiya: Gold prices dip Rs 900 per 10 grams

Gold prices slipped by Rs 900 to Rs 98,550 per 10 grams in the national capital on Wednesday, tracking a weaker trend in global markets, according to the All India Sarafa Association.This marks a decline from Tuesday’s close of Rs 99,450 for 99.9% pure gold.
Similarly, gold of 99.5% purity fell by Rs 900 to Rs 98,100 per 10 grams, compared to the previous close of Rs 99,000.
Despite the drop, festive demand on the occasion of Akshaya Tritiya helped soften the blow. Traditionally seen as an auspicious day to purchase gold, jewellery, and other valuables, the festival sparked a surge in consumer buying.
Jewellers expect a 35% jump in gold sales by value this Akshaya Tritiya, driven largely by high prices. Gold was priced at Rs 72,300 per 10 grams during last year’s festival on May 10. However, in terms of quantity, sales are expected to hold steady at around 20 tonnes.
Silver, meanwhile, saw a sharp decline of Rs 4,000, slipping to ₹98,000 per kg from Tuesday’s Rs 1,02,000.
In global markets, spot gold dropped by $43.35 or 1.31%, trading at $3,273.90 per ounce. Spot silver also fell, quoted 1.83% lower at $32.33 per ounce.
Commenting on the international price movement, Kaynat Chainwala, AVP-commodity research at Kotak Securities, said, “Gold extended its decline after US President Donald Trump signed an executive order aimed at softening the impact of his auto tariffs and cited progress in trade negotiations with several countries.”
Adding to the sentiment, US commerce secretary Howard Lutnick hinted at a breakthrough trade deal, though specifics remain under wraps.
Back home, the most-active June contract for gold futures on the Multi Commodity Exchange (MCX) sank by Rs 1,639, or 1.71%, to trade at Rs 93,953 per 10 grams.
Chintan Mehta, CEO of Abans Financial Services, further noted that traders are now turning their attention to upcoming US data, “Traders will closely watch key US macroeconomic releases later this week, including the first estimate of Q1 GDP, Personal Consumption Expenditures (PCE) inflation data, and April jobs figures.