Even as the Nifty 50 gave 12% returns in the FY26 through 19 December, gold ETF prices surged 45% to ₹11,400 per gm, while silver doubled to ₹200 per gm in the same period.(REUTERS)AI Quick ReadAs India celebrates Akshaya Tritiya on April 19, 2026, the bullion market reveals an intriguing yet complex scenario, according to analysts.
Gold, which is presently trading close to ₹1,54,650 per 10 grams, has achieved a remarkable return exceeding 63% since last year’s celebration—marking its best performance since the rally fueled by the pandemic in 2020.
Experts indicate that gold has reliably rewarded its investors over time, showing average annual returns of over 25% since 2018 and solidifying its status as a dependable store of value.
On the other hand, silver has distinguished itself as the top performer during this cycle. Its prices have skyrocketed from ₹95,900 per kg to approximately ₹2,54,650—a dramatic 165% increase—driven by robust industrial demand, increasing usage in green energy, and safe-haven buying in light of geopolitical tensions such as the US-Iran conflict.
Nonetheless, experts warn about being overly optimistic in the short term. Both gold and silver could experience a consolidation period lasting 2-3 months as a result of profit-taking and fluctuations across various asset classes. The overarching outlook is still favourable, but investors are encouraged to take a gradual and disciplined approach instead of pursuing prices at high levels.
According to Kaynat Chainwala, AVP Commodity Research, Kotak Securities, while near-term volatility in bullion may persist due to liquidity pressures and evolving US Fed expectations, the medium-term outlook remains constructive, supported by geopolitical uncertainty, stagflation risks, and structural shifts in global reserves.
Chainwala advises investors to view any price correction as an opportunity to accumulate rather than exit, while maintaining a prudent gold allocation of 8–15% in portfolios.
For Akshaya Tritiya, Chainwala suggests a slightly differentiated strategy by including silver alongside gold. With its dual role as a precious and industrial metal, silver offers higher growth potential, especially if industrial demand strengthens. A balanced approach is recommended, with gold forming the core 75–80% of the precious metals allocation and silver comprising 20–25%, ideally accumulated gradually with a long-term horizon.
According to Hareesh V, Head of Commodity Research, Geojit Investments Ltd, investors can consider allocating around 15% of their portfolio to bullion, with a heavier tilt toward gold.
Hareesh emphasized that a 10–15% allocation in gold remains a safe strategy given its strong fundamentals, even though short-term movements may be volatile. Silver should be kept below 5%, serving as a minor diversifier.
Further, Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities added that on Akshaya Tritiya, investors should treat gold as a strategic core holding and silver as a tactical satellite—allocating roughly 70–80% to gold for stability and 20–30% to silver for upside, while staggering purchases to manage volatility rather than investing purely on sentiment.
NS Ramaswamy Head CRM & Commodities of Ventura Securities, believes that with 2026 Akshaya Tritiya around the corner the gold silver allocation needs equal attention. 20% allocation to the bullion pack (10% gold and 10% silver) is recommended in ones portfolio.
Ajay Kedia, Director at Kedia Advisory, opined that the 12-month targets remain firmly bullish. Gold is expected to test ₹2,00,000– ₹2,10,000, implying an additional 32-38% upside from current levels. Silver could advance toward ₹3,20,000– ₹3,30,000, representing a further 34-38% gain.
"We suggest once should Buy — but through Gold ETFs and Silver ETFs via monthly SIP, not lump-sum. Akshaya Tritiya's Sanskrit meaning — "the undying third" — has never felt more appropriate for those invested in bullion," advised Kedia.
Hareesh V said that looking ahead to the next Akshaya Tritiya, gold’s long-term potential remains robust, making it a prudent choice for wealth preservation, while silver adds limited but complementary exposure.
Further, NS Ramaswamy believes that by next year's Akshaya Tritiya we expect a rise in gold prices by 25% and silver prices by 35%.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.
At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.
Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation.
Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.