India's Rising Gold Demand Sparks Economic Hope
Gold demand in India rose by 5% in 2024, reaching 802.8 tonnes, driven by reduced import duties and wedding-related purchases. The World Gold Council forecasts demand between 700-800 tonnes in 2025. The total value of gold demand increased by 31%, with investment demand growing by 29%.
- Country:
- India
India's appetite for gold continues to soar, as evidenced by a 5% increase in demand in 2024. The World Gold Council reports a total demand of 802.8 tonnes, significantly up from the previous year.
According to Sachin Jain, Regional CEO of WGC India, a reduction in import duties and robust wedding-related purchases have bolstered this uptick. The total value of gold demand surged 31% to approximately Rs 5,15,390 crore.
Looking ahead, the council expects demand to remain strong in 2025, projecting a range between 700-800 tonnes, as gold retains its status as a safe-haven asset amid economic uncertainties.
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