Wednesday, April 30, 2025, marks the celebration of Basava Jayanti and Akshaya Tritiya in India. While banks will generally remain open, they will be closed in Bengaluru, Karnataka, due to these festivals, as per the Reserve Bank of India (RBI) holiday list. Akshaya Tritiya is considered an auspicious Hindu festival that brings good fortune and is associated with progress and investments, especially in gold. Basava Jayanti marks the birth anniversary of the 12th-century philosopher and social reformer Basavanna, prominent in the Lingayat tradition, observed mainly in Karnataka.

Banks will also be closed on May 1, 2025, for Maharashtra Din/May Day (Labour Day) in Belapur, Bengaluru, Chennai, Guwahati, Hyderabad, Imphal, Kochi, Kolkata, Mumbai, Nagpur, Panaji, Patna, and Thiruvananthapuram. April has seen multiple bank holidays due to regional festivals and weekend breaks.

On Akshaya Tritiya, despite record-high prices, enthusiasm to purchase gold and silver is soaring, with industry estimates pegging total sales at Rs 16,000 crore. The main gold buying muhurat is between 5:41 AM and 12:18 PM. The word Akshaya means “never diminishing”, and purchases made today are believed to bring unending wealth. Gold prices have touched Rs 1 lakh per 10 grams, a steep jump from Rs 73,500 last year, while silver is priced at Rs 1 lakh per kilogram, up from Rs 86,000 in 2023. The All India Jewellers and Goldsmith Federation expects significant sales, potentially breaking previous records.

Gold and silver prices experienced a decline in domestic markets on Akshaya Tritiya. Gold June futures on the MCX fell by 0.4% to Rs 95,353 per 10 grams, and silver May futures dropped 0.77% to Rs 96,113 per kilogram. Internationally, gold prices slipped due to a stronger dollar and easing trade tensions. Spot gold was down 0.2% at $3,308.32 an ounce, and U.S. gold futures dropped 0.5% to $3,317.50.

According to Manoj Kumar Jain, Director at India Nivesh, gold and silver prices could stay volatile due to the dollar index and upcoming U.S. economic data. Axis Securities' Deveya Gaglani noted that gold prices have surged nearly 25% in 2025, delivering double-digit returns over the last three years. Gaglani advises a staggered buying strategy, watching for potential corrections.

Retail gold prices across major Indian cities on April 30, 2025, were: Mumbai (Rs 9,798 for 24K, Rs 8,981 for 22K), Delhi (Rs 9,813 for 24K, Rs 8,996 for 22K), Chennai (Rs 9,798 for 24K, Rs 8,981 for 22K), Kolkata (Rs 9,798 for 24K, Rs 8,981 for 22K), and Bengaluru (Rs 9,798 for 24K, Rs 8,981 for 22K).