The Siddhivinayak Temple Trust auctioned gold jewelry worth ₹1.33 crore on Gudi Padwa. The trust sold 207 gold articles offered by devotees.

The temple holds this auction once a year.

Gudi Padwa marks the beginning of the Hindu New Year and is considered an auspicious day for new beginnings.

Many people buy gold, vehicles, and property on this occasion, believing it brings prosperity.

This year’s auction came amid a record rally in gold prices. Spot gold hit an all-time high of $3,128.06 an ounce on Monday (March 31) and is set for its biggest quarterly gain in 38 years.

The metal has surged over 18% this quarter, driven by concerns over a global economic slowdown, interest rate cut bets, and central bank buying.

The dollar index eased 0.2%, making greenback-priced gold less expensive for buyers holding other currencies.

Donald Trump is expected to announce reciprocal tariffs on April 2, while automobile tariffs will take effect on April 3.

On Sunday (March 30), Trump said he was “pissed off” at Russian President Vladimir Putin and would impose secondary tariffs of 25%-50% on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine.

–With Reuters inputs