Gold prices hit record ₹1 lakh per 10 gm ahead of Akshaya Tritiya

Gold prices surged to a record high amid concerns that President Trump might remove Federal Reserve Chair Jerome Powell from his position.

Gold continued its scorching rally, hitting an all-time high amid fears that President Donald Trump might sack Federal Reserve Chair Jerome Powell, prompting investors to pull out of US stocks, bonds, and the dollar.

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Record Gold Prices Shake Middle-Class Dreams and Traditions

In India, gold prices recently skyrocketed to ₹1 lakh per 10 grams, a historic high that has sent ripples across the country—especially through the middle class. Traditionally viewed as a symbol of wealth, security, and auspiciousness, gold holds a deep cultural and emotional significance in Indian households. However, this dramatic price surge comes at a particularly sensitive time: just ahead of Akshaya Tritiya, one of the most important festivals for buying gold.

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For many in the middle class, gold has always been a preferred investment—tangible, stable, and often passed down through generations. But with the current prices, the dream of purchasing even a modest amount of gold is slipping out of reach. Families who would usually set aside savings for months in anticipation of buying gold on this auspicious day are now forced to reconsider or significantly scale back their purchases.

Among those most affected are Indian housewives, long regarded as the traditional custodians of family wealth in the form of gold ornaments and jewelry. Their careful saving and planning throughout the year often culminates in Akshaya Tritiya purchases. Now, with prices at an all-time high, many of these women are facing tough choices—postpone their gold investments, settle for lighter pieces, or turn to alternatives like silver or digital gold.

The cultural and financial blow is substantial. While gold remains a deeply cherished part of Indian tradition, its rising cost is creating a growing gap between aspiration and affordability, especially for those who have long seen gold not just as a luxury, but as a vital part of securing their family’s future.

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