Akshaya Tritiya: Silver Outshines Gold as Prices Reach New Highs in Hyderabad

As gold prices hit record highs this Akshaya Tritiya, many jewellery traders in Hyderabad report a noticeable shift in consumer preferences, from gold to silver. Despite attractive discounts and festive offers, customers are showing more interest in silver, citing affordability as the key reason.

According to jewellers, gold prices surged to nearly Rs 1 lakh per 10 grams on Tuesday, while silver remained significantly cheaper at Rs 1,120 per 10 grams. Members of the Telangana Gold and Silver Jewellery Association observed that the steep gold prices have led to a growing demand for lightweight gold ornaments and silver articles.

To attract buyers this festive season, jewellery stores rolled out a range of promotions, including gold exchange schemes. However, despite these efforts, gold sales have reportedly taken a hit.

“With gold rates reaching an all-time high this year, we are seeing a shift to silver, as consumers are preferring silver articles,” said Anvesh Agarwal of Oro Jewels.

Echoing the trend, a staff member at New DM Jewellers in Secunderabad noted, “There has always been a tradition of buying precious metals on Akshaya Tritiya, but this year, we’ve witnessed a dip in gold sales and a noticeable rise in silver purchases.”