According to Jefferies, gold prices are currently experiencing a consolidation phase following a significant rally driven by retail demand in markets such as India, China, and the US. This moderation in demand is evident as India's gold imports dropped from $14.7 billion in October to $3.1 billion in March. As the auspicious festival of Akshaya Tritiya approaches on April 19, many potential buyers are contemplating their purchasing strategies. Experts recommend that those needing jewelry in the near term consider gradual purchases rather than waiting for lower prices. For long-term investors, systematic investment plans (SIPs) in gold ETFs or mutual funds can average out costs during price fluctuations. Despite the current consolidation, factors such as ongoing central bank buying, geopolitical uncertainties, and inflation concerns are expected to support gold prices. Axis Securities forecasts that domestic gold prices could reach ₹1,70,000 to ₹1,85,000 within the next year, indicating potential upside from current levels.