Gold Drops ₹4,000 in Days! Experts Reveal Their Strategy Before Akshaya Tritiya

Gold Price Today Drops Before Akshaya Tritiya: What’s Driving the Fall & What Should You Do

As India prepares to celebrate Akshaya Tritiya on April 30 — a highly auspicious day for buying gold — prices of the yellow metal have taken a sharp dip. This surprising fall is driven by a mix of global factors including easing US-China trade tensions, rising US Dollar, and profit booking at record highs.

Let’s break down what’s happening in the gold market, where prices are headed next, and what experts are advising ahead of Akshaya Tritiya.

 MCX Gold Price Today — Big Drop Before Festival

As of Tuesday morning, April 29, the MCX Gold June 5 contract was trading at ₹95,219 per 10 grams, down 0.84% from the previous close. This is a steep decline from the all-time high of ₹99,358 per 10 grams seen on April 22 — a drop of over ₹4,000 in just a few days.

Key Trigger: The optimism around potential trade agreements and improving global relations has taken the shine off gold’s “safe haven” appeal.

 What’s Pulling Gold Prices Down Globally?

1. Trade War Worries Eased

The fear of a full-blown trade war between the US and China has eased significantly. Reports of ongoing discussions and possible compromises between the two nations have led investors to seek riskier assets instead of gold.

“Gold prices fell amid the US opening tariff talks with multiple nations and growing expectations of a possible China-US trade agreement,” said Jateen Trivedi, VP, LKP Securities.

2. Rising US Dollar

The US Dollar Index rose by 0.20%, making gold more expensive for international buyers. A stronger dollar typically pushes gold prices down.

3. Investor Risk Appetite Increases

With stock markets stabilizing, many investors are shifting their money from safe assets like gold to equities, anticipating better returns.

4. US Economic Data in Focus

Investors are also cautious ahead of major US data releases this week, including:

• Job Openings Report (JOLTS)

• Personal Consumption Expenditures (PCE)

• Non-Farm Payrolls (NFP)

These indicators will shape expectations on whether the US Federal Reserve might change interest rates — another key factor affecting gold.

 Expert Analysis: MCX Gold and Silver Levels to Watch

Analysts have issued support and resistance levels for both gold and silver in rupee and dollar terms:

Gold (INR – MCX)

• Support: ₹95,350 – ₹94,600

• Resistance: ₹96,650 – ₹97,280

Silver (INR – MCX)

• Support: ₹95,800 – ₹95,150

• Resistance: ₹96,950 – ₹97,700

Gold (USD per oz)

• Support: $3,310 – $3,288

• Resistance: $3,360 – $3,378

Silver (USD per oz)

• Support: $32.66 – $32.30

• Resistance: $33.30 – $33.70

“We suggest waiting for some stability in the market before initiating fresh positions in gold and silver,” said Manoj Kumar Jain, Prithvifinmart Commodity Research.

 Should You Buy Gold Before Akshaya Tritiya?

Akshaya Tritiya is considered an extremely lucky day for purchasing gold. Culturally, it’s believed that investments made on this day grow eternally. But with prices sliding, many are unsure whether to buy now or wait.

Experts Suggest ‘Buy the Dip’ Strategy

According to Manav Modi, Senior Analyst at Motilal Oswal Financial Services, traders should look for opportunities on price dips.

“We continue to recommend a ‘buy on dips’ strategy. Assuming USD-INR stays around 85, gold prices could range between ₹96,500 and ₹1,00,000 in the short term. A move to ₹1,06,000 is also possible in the long run,” he said.

 Investor Takeaway: Short-Term vs Long-Term Strategy

Short-Term (This Week)

• Expect volatility as gold reacts to global news and US economic data.

• Wait for more stability before making new large investments.

• Use tight stop-losses if trading gold on MCX.

Long-Term (6-12 Months)

• Accumulate on dips below ₹95,000.

• Akshaya Tritiya could offer a value entry point for long-term investors.

• Maintain allocation to gold as part of diversified portfolio for inflation protection and safety.

 What’s Next? Key Events to Watch

• April 30: Akshaya Tritiya — Expect spike in physical gold buying.

• April 30 (US): JOLTS report (Job data)

• May 1: PCE inflation data

• May 3: Non-Farm Payrolls report

These events could create short-term swings in both domestic and international gold markets.

Gold has taken a breather from its record-breaking rally just in time for Akshaya Tritiya 2025. While short-term jitters remain, most analysts maintain a bullish long-term outlook. For retail investors, this price dip may be the opportunity to buy smart, not panic.

Whether you’re buying for tradition, investment, or both — keep an eye on support zones, global signals, and expert advice. The yellow metal may glitter brighter again in the months to come.