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flag India's gold demand surged 5% in 2024, driven by lower duties and festive spending.

flag India's gold demand rose 5% in 2024 to 802.8 tonnes, driven by lower import duties and increased wedding and festival purchases. flag The World Gold Council predicts 2025 demand will be between 700-800 tonnes, noting investment demand will grow despite higher gold prices potentially cooling jewelry sales. flag The Reserve Bank of India also increased its gold stock by 72.6 tonnes in 2024. flag Globally, gold demand hit a record 4,974 tonnes in 2024, spurred by central bank purchases and investment demand, but jewelry demand fell by 11% due to high prices.

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