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

India's gold demand rose 5% in 2024 to 802.8 tonnes, driven by lower import duties and increased wedding and festival purchases. 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. The Reserve Bank of India also increased its gold stock by 72.6 tonnes in 2024. 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.

1 month ago
63 Articles

Further Reading