India's gold demand falls 15% in January-March to 118.1 tonnes on high prices: World Gold Council
The Hindu
India's gold demand declines 15% in Q1 2025, but value grows 22% as prices surge, impacting consumer buying patterns.
“India’s gold demand witnessed a 15% on-year decline to 118.1 tonnes in the January-March quarter of this year, even as value grew by 22% to ₹94,030 crore owing to surging prices,” the World Gold Council (WGC) said on Wednesday (April 29, 2025.)
According to the WGC forecast, India's gold demand for 2025 is expected to be between 700-800 tonnes. Gold prices have risen 25% since the beginning of 2025, approaching the key psychological threshold of ₹1,00,000 per 10 gm, affecting consumer buying patterns.
"The elevated prices have impacted affordability. Yet, the enduring cultural significance of gold, especially ahead of Akshaya Tritiya and the upcoming wedding season, continues to support buying sentiment," WGC India CEO Sachin Jain said in its quarterly report.
According to experts, the gold market is humming with excitement on the auspicious occasion of Akshaya Tritiya, which holds immense cultural significance in India, traditionally marking a surge in gold purchases.
Record prices have pushed consumers towards smaller, lightweight pieces, with some postponing purchases hoping for price dips. Despite this, wedding-related demand remained relatively stable given its essential nature.
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“Experts believe, while the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying,” they added.
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