Mumbai, March 17: With Akshaya Tritiya set to be observed on April 19, the All India Gem and Jewellery Domestic Council (GJC) has cautioned that rising geopolitical tensions in the Middle East could lead
to short-term volatility in global gold prices, potentially impacting jewellery rates and consumer sentiment in India during the peak buying season.
Akshaya Tritiya timing and significance
According to the GJC, the auspicious Akshaya Tritiya tithi will begin at 10:49 am on April 19 and continue until 7:27 am on April 20. The day is traditionally considered favourable for purchasing gold and property, with ‘Akshaya’ symbolising prosperity and permanence.
Middle East tensions may impact gold supply and pricing
Industry experts highlighted that the Middle East, particularly Dubai, plays a pivotal role in the global bullion trade and serves as a key gateway for gold entering Asian markets. Any escalation in regional tensions could disrupt supply chains, tighten bullion liquidity, and influence international price discovery mechanisms.
Demand remains resilient despite rising prices
Despite these uncertainties, domestic demand is expected to remain resilient, supported by the ongoing wedding season and India’s deep-rooted cultural affinity for gold. However, rising prices are prompting a shift in consumer behaviour, with buyers increasingly opting for lighter jewellery and diamond-studded pieces.
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Upcoming jewellery show and festive season boost
Amid this backdrop, the GJC has announced the 9th edition of the India Gems and Jewellery Show (GJS April 2026), scheduled to be held from April 4 to 7 at the Jio World Convention Centre in Mumbai.
Meanwhile, Gudi Padwa, the Marathi New Year, will be celebrated on March 19, marking the beginning of a festive period for the jewellery market.
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