India's gold demand falls 15% in January-March to 118.1 tonnes on high prices: World Gold Council

 India's gold demand falls 15% in January-March to 118.1 tonnes on high prices: World Gold Council

India 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.Gold imports rose 8% to 167.4 tonnes in the January-March quarter, while recycling fell 32% to 26 tonnes, as consumers held onto their gold amid record prices. The average quarterly gold price in the first quarter of this year was ₹79,633.4 per ten gram, compared to ₹55,247.2 in Q1 2024.Meanwhile, global gold demand has increased 1% to 1,206 tonnes in the January-March quarter of 2025 — the highest first-quarter level since 2019.

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